Commerce Bank Sells 1,516 Shares of The Allstate Corporation (NYSE:ALL)

Key Points

• Commerce Bank has reduced its holdings in The Allstate Corporation by 2.9%, selling 1,516 shares in the first quarter, leaving them with a total of 51,337 shares valued at approximately $10.63 million.
• Analysts have given mixed ratings on Allstate, with ratings ranging from a "sell" to a "strong buy," and a current consensus rating of “Moderate Buy” alongside a target price of $228.40.
• In the latest quarterly results, Allstate reported an EPS of $5.94, significantly exceeding analyst expectations of $3.20, but with revenue falling short of projections at $15.05 billion.

Commerce Bank lowered its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 51,337 shares of the insurance provider's stock after selling 1,516 shares during the period. Commerce Bank's holdings in Allstate were worth $10,630,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in Allstate by 2.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock valued at $1,799,681,000 after buying an additional 218,771 shares during the period. Bank of America Corp DE boosted its holdings in Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after acquiring an additional 4,035,629 shares during the period. Invesco Ltd. boosted its holdings in Allstate by 3.0% during the 4th quarter. Invesco Ltd. now owns 3,681,306 shares of the insurance provider's stock valued at $709,719,000 after acquiring an additional 106,730 shares during the period. Northern Trust Corp grew its position in Allstate by 15.8% during the 4th quarter. Northern Trust Corp now owns 3,496,017 shares of the insurance provider's stock worth $673,997,000 after acquiring an additional 477,221 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Allstate by 7.2% in the 4th quarter. Deutsche Bank AG now owns 3,233,681 shares of the insurance provider's stock worth $623,421,000 after purchasing an additional 217,468 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ALL. Wells Fargo & Company dropped their price objective on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. William Blair started coverage on shares of Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating for the company. Wall Street Zen cut shares of Allstate from a "buy" rating to a "hold" rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $235.00 to $237.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. raised their target price on Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Allstate currently has an average rating of "Moderate Buy" and a consensus price target of $228.40.

Allstate Stock Down 1.7%

NYSE:ALL opened at $199.71 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.40. The firm's 50-day moving average price is $198.37 and its 200-day moving average price is $197.20. The company has a market capitalization of $52.63 billion, a PE ratio of 9.39, a P/E/G ratio of 1.06 and a beta of 0.35. The Allstate Corporation has a 1-year low of $168.36 and a 1-year high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%. The firm had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. During the same period in the previous year, the firm posted $1.61 EPS. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. Allstate's dividend payout ratio (DPR) is presently 27.32%.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.

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