Dimensional Fund Advisors LP Grows Stake in The Allstate Corporation $ALL

Key Points

• Dimensional Fund Advisors LP increased its stake in The Allstate Corporation by 18.2% in Q3, buying 401,700 shares to hold 2,606,451 shares (about 1.0% of the company) valued at roughly $559.4 million.
• EPS beat: Allstate reported $14.31 EPS versus a $8.72 consensus and $17.35 billion in revenue for the quarter, and analysts now forecast about $18.74 EPS for the fiscal year.
• Dividend increase: Allstate raised its quarterly dividend to $1.08 (annualized $4.32) from $1.00, implying a 2.0% yield and a low payout ratio of ~11.3%.

Dimensional Fund Advisors LP lifted its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 18.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,606,451 shares of the insurance provider's stock after purchasing an additional 401,700 shares during the quarter. Dimensional Fund Advisors LP owned 1.00% of Allstate worth $559,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ALL. Avantax Advisory Services Inc. boosted its stake in shares of Allstate by 3.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider's stock worth $4,745,000 after buying an additional 704 shares during the last quarter. Truist Financial Corp lifted its holdings in Allstate by 4.7% in the third quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider's stock valued at $26,501,000 after acquiring an additional 5,542 shares during the period. Commonwealth Retirement Investments LLC grew its stake in shares of Allstate by 103.5% during the 2nd quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider's stock valued at $2,609,000 after purchasing an additional 6,590 shares during the period. Davis Capital Management purchased a new stake in shares of Allstate during the 3rd quarter valued at about $2,767,000. Finally, First Horizon Corp purchased a new stake in Allstate during the third quarter valued at approximately $11,109,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

NYSE:ALL opened at $214.42 on Thursday. The business's 50-day moving average is $204.51 and its 200 day moving average is $204.65. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $216.75. The company has a market capitalization of $55.65 billion, a P/E ratio of 5.61, a P/E/G ratio of 0.44 and a beta of 0.23. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter in the previous year, the company posted $7.67 EPS. The company's revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a $1.08 dividend. This is an increase from Allstate's previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, March 2nd. Allstate's payout ratio is currently 11.31%.

Insider Activity

In related news, insider Suren Gupta sold 19,593 shares of the company's stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the transaction, the insider directly owned 100,646 shares in the company, valued at approximately $21,135,660. This represents a 16.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ALL shares. Keefe, Bruyette & Woods upped their price target on Allstate from $254.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 10th. Raymond James Financial reiterated a "strong-buy" rating and issued a $260.00 price target on shares of Allstate in a research report on Tuesday. Weiss Ratings restated a "buy (b)" rating on shares of Allstate in a research report on Wednesday, January 21st. Cantor Fitzgerald restated a "neutral" rating and set a $220.00 target price on shares of Allstate in a research note on Thursday, February 5th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $238.00 price target on shares of Allstate in a research note on Saturday, February 7th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $239.29.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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