Davis R M Inc. Grows Stock Position in The Allstate Corporation (NYSE:ALL)

Key Points

• Davis R M Inc. has increased its stake in The Allstate Corporation by 104.5%, now owning a total of 3,131 shares valued at approximately $648,000.
• Allstate reported a quarterly earnings per share (EPS) of $5.94, significantly exceeding analysts' expectations of $3.20, with revenue for the period at $15.05 billion.
• The company has declared a quarterly dividend of $1.00 per share, which will be paid on October 1st, representing an annualized dividend yield of 2.0%.

Davis R M Inc. lifted its position in The Allstate Corporation (NYSE:ALL - Free Report) by 104.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,131 shares of the insurance provider's stock after purchasing an additional 1,600 shares during the quarter. Davis R M Inc.'s holdings in Allstate were worth $648,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of Allstate by 157.9% during the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock worth $1,270,705,000 after purchasing an additional 4,035,629 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Allstate by 25,026.1% during the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock worth $263,785,000 after purchasing an additional 1,268,825 shares during the last quarter. Castle Hook Partners LP grew its holdings in shares of Allstate by 1,303.3% during the fourth quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock worth $159,021,000 after purchasing an additional 766,058 shares during the last quarter. Menora Mivtachim Holdings LTD. bought a new stake in shares of Allstate during the fourth quarter worth $143,165,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Allstate by 261.6% during the fourth quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock worth $160,575,000 after purchasing an additional 602,533 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Trading Down 1.7%

Shares of Allstate stock traded down $3.54 on Friday, hitting $199.71. 2,041,482 shares of the company's stock traded hands, compared to its average volume of 1,619,968. The Allstate Corporation has a one year low of $168.36 and a one year high of $213.18. 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 company has a fifty day moving average of $198.44 and a two-hundred day moving average of $197.11. The company has a market capitalization of $52.63 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 1.06 and a beta of 0.35.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $2.74. The business had revenue of $15.05 billion for 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 company's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 earnings per share. As a group, sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate's dividend payout ratio is 27.32%.

Analysts Set New Price Targets

Several analysts have weighed in on ALL shares. Barclays reissued an "underweight" rating and set a $198.00 price objective (up from $188.00) on shares of Allstate in a report on Thursday. Keefe, Bruyette & Woods upped their target price on shares of Allstate from $235.00 to $237.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Wall Street Zen downgraded Allstate from a "buy" rating to a "hold" rating in a report on Monday. UBS Group raised their target price on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, William Blair began coverage on Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and a consensus price target of $228.40.

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.