Federated Hermes Inc. Has $63.21 Million Stock Position in The Allstate Corporation (NYSE:ALL)

Federated Hermes Inc. grew its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 305,246 shares of the insurance provider's stock after buying an additional 39,479 shares during the quarter. Federated Hermes Inc. owned 0.12% of Allstate worth $63,207,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new stake in shares of Allstate during the first quarter worth $28,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Allstate during the fourth quarter worth $29,000. Meeder Asset Management Inc. raised its holdings in shares of Allstate by 113.8% during 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. Aster Capital Management DIFC Ltd bought a new position in shares of Allstate during the fourth quarter worth about $40,000. Finally, Mattson Financial Services LLC bought a new position in shares of Allstate during the fourth quarter worth about $44,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Down 0.8%

Shares of NYSE ALL traded down $1.61 during mid-day trading on Wednesday, reaching $192.29. The company had a trading volume of 1,891,513 shares, compared to its average volume of 1,422,405. The stock has a fifty day moving average of $198.69 and a two-hundred day moving average of $197.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $50.92 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.01 and a beta of 0.33. The Allstate Corporation has a 12-month low of $168.36 and a 12-month high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 24.62% and a net margin of 6.19%. During the same period in the prior year, the company earned $1.61 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 2.08%. Allstate's dividend payout ratio (DPR) is presently 27.32%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price target on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Raymond James Financial restated a "strong-buy" rating and set a $250.00 price target (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. UBS Group upped their price target on shares of Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. Finally, Wall Street Zen lowered shares of Allstate from a "buy" rating to a "hold" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $227.07.

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.