Ethic Inc. Buys 5,841 Shares of The Allstate Corporation $ALL

Key Points

• Ethic Inc. increased its holdings in The Allstate Corporation by 16.1%, now owning 42,024 shares valued at approximately $8.72 million.
• Institutional investors and hedge funds collectively own 76.47% of Allstate's stock, indicating strong institutional interest around the company.
• Analysts have a consensus rating of "Moderate Buy" for Allstate, with an average price target of $229.33, suggesting potential for growth in the stock price.

Ethic Inc. grew its position in The Allstate Corporation (NYSE:ALL - Free Report) by 16.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,024 shares of the insurance provider's stock after purchasing an additional 5,841 shares during the quarter. Ethic Inc.'s holdings in Allstate were worth $8,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Hughes Financial Services LLC bought a new position in shares of Allstate in the first quarter worth approximately $28,000. Kapitalo Investimentos Ltda bought a new position in shares of Allstate in the fourth quarter worth approximately $29,000. Meeder Asset Management Inc. boosted its position in shares of Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after purchasing an additional 99 shares during the period. McClarren Financial Advisors Inc. bought a new position in shares of Allstate in the first quarter worth approximately $43,000. Finally, Mattson Financial Services LLC bought a new position in shares of Allstate in the fourth quarter worth approximately $44,000. 76.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALL has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. UBS Group boosted their target price on shares of Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Evercore ISI boosted their target price on shares of Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Wells Fargo & Company set a $202.00 target price on shares of Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Finally, Citigroup raised shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.73.

Allstate Price Performance

Allstate stock traded down $5.6310 during mid-day trading on Thursday, reaching $207.9890. 860,229 shares of the company's stock traded hands, compared to its average volume of 1,728,700. The company has a market cap of $54.81 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 0.86 and a beta of 0.35. The stock has a 50 day moving average of $198.91 and a two-hundred day moving average of $198.81. 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 12-month low of $176.00 and a 12-month high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. The company 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%. Allstate's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 earnings per share. Equities analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The company also recently announced 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 1.9%. Allstate's dividend payout ratio is currently 18.81%.

About Allstate

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.