First Trust Advisors LP Boosts Stock Holdings in The Allstate Corporation $ALL

Key Points

• First Trust Advisors LP boosted its stake in The Allstate Corporation by 40.1% in Q3 to 1,084,520 shares, valued at about $232.8 million and representing roughly 0.41% of the company.
• Allstate reported a large quarterly earnings beat—$14.31 EPS vs. $8.72 expected—with $17.35 billion in revenue, strong profitability metrics (ROE 39.2%, net margin 15.19%), and raised its quarterly dividend to $1.08 (annualized $4.32, ~2.0% yield).
• Analysts hold a generally positive view (average rating: Moderate Buy) with an average price target of $238.88, and several firms have recently raised targets (e.g., JPMorgan to $263).

First Trust Advisors LP grew its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 40.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,084,520 shares of the insurance provider's stock after buying an additional 310,522 shares during the period. First Trust Advisors LP owned 0.41% of Allstate worth $232,792,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALL. Advisory Alpha LLC raised its position in shares of Allstate by 10.5% in the 3rd quarter. Advisory Alpha LLC now owns 1,274 shares of the insurance provider's stock worth $268,000 after buying an additional 121 shares during the period. IFG Advisory LLC grew its position in Allstate by 9.6% during the third quarter. IFG Advisory LLC now owns 13,798 shares of the insurance provider's stock valued at $2,962,000 after acquiring an additional 1,211 shares during the period. Cambria Investment Management L.P. acquired a new stake in Allstate during the third quarter worth about $466,000. Dimensional Fund Advisors LP increased its stake in Allstate by 18.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider's stock worth $559,435,000 after acquiring an additional 401,700 shares during the last quarter. Finally, Cresset Asset Management LLC raised its holdings in shares of Allstate by 4.1% in the 3rd quarter. Cresset Asset Management LLC now owns 8,582 shares of the insurance provider's stock worth $1,851,000 after purchasing an additional 337 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of NYSE:ALL opened at $212.56 on Friday. The business's 50-day simple moving average is $204.65 and its 200 day simple moving average is $204.70. The company has a market cap of $55.17 billion, a P/E ratio of 5.57, a PEG ratio of 0.44 and a beta of 0.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The Allstate Corporation has a one year low of $176.00 and a one year high of $216.75.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share 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 firm had revenue of $17.35 billion during the quarter, compared to analysts' expectations of $17.23 billion. During the same quarter in the prior year, the business earned $7.67 EPS. Allstate's quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side 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 declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Allstate's previous quarterly dividend of $1.00. Allstate's dividend payout ratio (DPR) is 11.31%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ALL shares. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $220.00 price objective on shares of Allstate in a research note on Thursday, February 5th. JPMorgan Chase & Co. raised their price target on shares of Allstate from $260.00 to $263.00 and gave the company an "overweight" rating in a report on Thursday, February 5th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $260.00 price target on shares of Allstate in a research report on Tuesday. Weiss Ratings reiterated a "buy (b)" rating on shares of Allstate in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company dropped their price objective on shares of Allstate from $228.00 to $227.00 and set an "equal weight" rating for the company in a research report on Friday, February 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $238.88.

Insiders Place Their Bets

In related news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction on 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 sale, the insider owned 100,646 shares of the company's stock, valued at $21,135,660. The trade was a 16.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company's stock.

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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