CX Institutional Grows Stake in The Allstate Corporation $ALL

Key Points

• CX Institutional increased its stake in The Allstate Corporation by 504.8% during the second quarter, raising its ownership to over 30,000 shares valued at approximately $6.08 million.
• Wall Street analysts show confidence in Allstate, with multiple firms issuing price target increases, resulting in an average target of $231.47 and a consensus rating of "Moderate Buy."
• Allstate recently announced a quarterly dividend of $1.00 per share, yielding 1.9%, with a significant dividend payout ratio of 18.81%.

CX Institutional boosted its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 504.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,186 shares of the insurance provider's stock after purchasing an additional 25,195 shares during the quarter. CX Institutional's holdings in Allstate were worth $6,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Arlington Trust Co LLC increased its holdings in shares of Allstate by 261.8% in the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 89 shares during the period. Hughes Financial Services LLC purchased a new position in Allstate during the 1st quarter worth $28,000. Meeder Asset Management Inc. lifted its position in Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after acquiring an additional 99 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in Allstate during the 1st quarter worth about $43,000. Finally, Mattson Financial Services LLC acquired a new stake in Allstate during the 4th quarter worth about $44,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group boosted their price objective on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $260.00 price target (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. BMO Capital Markets upped their price target on Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Jefferies Financial Group upped their price target on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, Wells Fargo & Company set a $202.00 price target on Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $231.47.

Allstate Price Performance

ALL stock opened at $205.99 on Friday. The firm has a market capitalization of $54.28 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 0.82 and a beta of 0.37. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $214.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50 day simple moving average of $201.63 and a 200-day simple moving average of $200.50.

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

Allstate Dividend Announcement

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

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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