Credit Agricole S A Grows Stake in The Allstate Corporation $ALL

Key Points

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Credit Agricole S A lifted its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 64.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,292 shares of the insurance provider's stock after buying an additional 125,148 shares during the period. Credit Agricole S A owned approximately 0.12% of Allstate worth $66,323,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ALL. Hughes Financial Services LLC purchased a new stake in shares of Allstate during the first quarter valued at $28,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Allstate during the fourth quarter valued at $29,000. Meeder Asset Management Inc. boosted its position in shares of Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after buying an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Allstate during the first quarter valued at $43,000. Finally, Mattson Financial Services LLC purchased a new stake in shares of Allstate during the fourth quarter valued at $44,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley increased their price objective on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Cantor Fitzgerald raised Allstate to a "hold" rating in a research report on Wednesday, August 13th. Keefe, Bruyette & Woods raised their target price on Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Finally, William Blair assumed coverage on Allstate in a research report on Friday, June 6th. They issued a "sector outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $229.33.

Allstate Stock Up 0.2%

NYSE ALL opened at $207.11 on Tuesday. The stock's 50-day moving average price is $198.28 and its 200-day moving average price is $198.62. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $213.18. The company has a market capitalization of $54.57 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 0.84 and a beta of 0.35.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $16.59 billion. During the same quarter last year, the company earned $1.61 earnings per share. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio (DPR) is 18.81%.

Allstate 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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