First Hawaiian Bank Takes Position in The Allstate Corporation $ALL

Key Points

• First Hawaiian Bank acquired a new stake in The Allstate Corporation, purchasing 2,299 shares valued at approximately $476,000 during the 1st quarter.
• Allstate recently reported a quarterly earnings per share (EPS) of $5.94, significantly surpassing the consensus estimate of $3.20, while its revenue reached $15.05 billion.
• The company announced a quarterly dividend of $1.00, payable on October 1st, with a current annualized yield of 2.0%.

First Hawaiian Bank bought a new stake in The Allstate Corporation (NYSE:ALL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,299 shares of the insurance provider's stock, valued at approximately $476,000.

A number of other institutional investors have also made changes to their positions in the business. Hughes Financial Services LLC bought a new stake in Allstate during the 1st quarter worth about $28,000. Meeder Asset Management Inc. raised its holdings in Allstate by 113.8% during the 1st 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 last quarter. McClarren Financial Advisors Inc. bought a new stake in Allstate during the 1st quarter worth about $43,000. Mattson Financial Services LLC bought a new stake in Allstate during the 4th quarter worth about $44,000. Finally, 1 North Wealth Services LLC bought a new stake in Allstate during the 1st quarter worth about $51,000. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

Shares of ALL stock opened at $200.40 on Monday. 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 stock has a 50-day moving average of $200.99 and a 200-day moving average of $200.49. The Allstate Corporation has a one year low of $176.00 and a one year high of $214.76. The stock has a market cap of $52.81 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 0.80 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same period in the previous year, the firm earned $1.61 EPS. Allstate's quarterly revenue was up 5.8% compared to the same quarter last year. 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 firm 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 $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate's payout ratio is currently 18.81%.

Analysts Set New Price Targets

Several brokerages have weighed in on ALL. Citigroup raised Allstate to a "hold" rating in a report on Wednesday, August 13th. Keefe, Bruyette & Woods boosted their price objective on Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Wells Fargo & Company set a $202.00 price objective on Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Morgan Stanley upped their price target on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Cantor Fitzgerald raised Allstate to a "hold" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $231.21.

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.

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