First Trust Advisors LP Has $462.98 Million Stock Position in The Allstate Corporation $ALL

Key Points

• First Trust Advisors LP increased its Allstate stake by 30.6% in the first quarter, ending with 2.23 million shares valued at about $462.98 million.
• Allstate reported strong quarterly results, with EPS of $10.65 beating estimates and revenue of $16.94 billion topping forecasts; the company also posted a 17.81% net margin and 42.66% return on equity.
• The company announced a quarterly dividend of $1.08 per share, payable October 1, while analysts currently assign Allstate a consensus Moderate Buy rating with an average price target of $254.80.

First Trust Advisors LP lifted its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 30.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,232,938 shares of the insurance provider's stock after acquiring an additional 522,785 shares during the quarter. First Trust Advisors LP owned approximately 0.87% of Allstate worth $462,977,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ALL. MV Capital Management Inc. acquired a new position in Allstate during the 4th quarter worth about $25,000. Dorato Capital Management acquired a new stake in shares of Allstate in the fourth quarter valued at about $27,000. Navalign LLC acquired a new stake in shares of Allstate in the fourth quarter valued at about $27,000. Evolution Wealth Management Inc. raised its position in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider's stock worth $29,000 after acquiring an additional 140 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Allstate during the first quarter worth about $30,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Performance

Shares of ALL stock opened at $251.64 on Wednesday. The company has a market cap of $64.78 billion, a price-to-earnings ratio of 5.55, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $257.67. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $228.81 and a 200-day moving average of $215.02.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. Allstate's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.53 EPS. On average, equities analysts forecast that The Allstate Corporation will post 30.51 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate's dividend payout ratio is currently 9.53%.

Insider Activity

In other news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider owned 27,558 shares of the company's stock, valued at $5,959,968.66. This represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Mario Rizzo sold 18,578 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company's stock, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 22,353 shares of company stock worth $4,851,560. Company insiders own 1.55% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ALL shares. Atlantic Securities set a $319.00 price objective on shares of Allstate in a research note on Wednesday, July 15th. Weiss Ratings reissued a "buy (a-)" rating on shares of Allstate in a research note on Thursday, June 18th. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research report on Monday. Morgan Stanley upped their price target on shares of Allstate from $215.00 to $240.00 and gave the company an "equal weight" rating in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. increased their price target on Allstate from $263.00 to $282.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $254.80.

About Allstate

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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