Dimensional Fund Advisors LP Acquires 151,148 Shares of The Allstate Corporation $ALL

Key Points

• Dimensional Fund Advisors LP increased its stake in The Allstate Corporation by 9.2%, acquiring an additional 151,148 shares to reach a total of 1,792,181 shares valued at approximately $371 million.
• Allstate reported quarterly earnings of $5.94 per share, significantly surpassing analysts' expectations of $3.20, while revenues totaled $15.05 billion, slightly below the consensus estimate.
• The company will pay a quarterly dividend of $1.00 per share on October 1st, translating to an annualized dividend of $4.00 and a yield of 1.9%.

Dimensional Fund Advisors LP lifted its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 9.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,792,181 shares of the insurance provider's stock after purchasing an additional 151,148 shares during the quarter. Dimensional Fund Advisors LP owned 0.68% of Allstate worth $371,097,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Allstate by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock valued at $6,791,914,000 after purchasing an additional 164,662 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Allstate by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock worth $1,799,681,000 after buying an additional 218,771 shares during the period. Bank of America Corp DE increased its holdings in shares of Allstate by 157.9% in 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 buying an additional 4,035,629 shares during the period. GQG Partners LLC lifted its stake in shares of Allstate by 2.1% in the 1st quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider's stock valued at $912,288,000 after acquiring an additional 89,185 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Allstate by 15.8% during the 4th quarter. Northern Trust Corp now owns 3,496,017 shares of the insurance provider's stock valued at $673,997,000 after acquiring an additional 477,221 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Citigroup raised Allstate to a "hold" rating in a research note on Wednesday, August 13th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $260.00 price objective (up from $250.00) on shares of Allstate in a research note on Monday, August 4th. Evercore ISI lifted their price target on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. UBS Group upped their price objective on shares of Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley boosted their price target on shares of Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $230.73.

Allstate Stock Down 2.5%

ALL stock traded down $5.33 during trading on Thursday, hitting $208.29. 778,343 shares of the stock traded hands, compared to its average volume of 1,728,084. The stock has a market cap of $54.89 billion, a price-to-earnings ratio of 9.80, a price-to-earnings-growth ratio of 0.86 and a beta of 0.35. 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 Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $214.76. The firm's 50 day moving average is $198.91 and its two-hundred day moving average is $198.81.

Allstate (NYSE:ALL - Get Free Report) last issued its 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 firm had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 earnings per share. On average, sell-side analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The company 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 dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio 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.