Focus Partners Wealth Has $16.62 Million Stock Holdings in The Allstate Corporation $ALL

Key Points

• Focus Partners Wealth increased its holdings in The Allstate Corporation by 33.0% during the 1st quarter, owning 80,266 shares valued at $16.62 million.
• Several hedge funds significantly raised their positions in Allstate, with GAMMA Investing LLC increasing its stake by an astonishing 25,026.1%.
• Allstate recently announced a quarterly dividend of $1.00 per share, representing an annualized yield of 2.0%.

Focus Partners Wealth grew its position in The Allstate Corporation (NYSE:ALL - Free Report) by 33.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,266 shares of the insurance provider's stock after purchasing an additional 19,895 shares during the period. Focus Partners Wealth's holdings in Allstate were worth $16,622,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Allstate by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock worth $2,424,710,000 after acquiring an additional 2,374,684 shares in the last quarter. Boston Partners increased its position in shares of Allstate by 613.9% during the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock worth $512,627,000 after acquiring an additional 2,134,893 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Allstate by 25,026.1% during the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock worth $263,785,000 after acquiring an additional 1,268,825 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Allstate by 261.6% during the fourth quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock worth $160,575,000 after acquiring an additional 602,533 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Allstate by 27.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock worth $482,073,000 after acquiring an additional 497,982 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ALL shares. Wells Fargo & Company set a $202.00 price objective on shares of Allstate and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Citigroup raised shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. Barclays reaffirmed an "underweight" rating and issued a $198.00 target price (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Jefferies Financial Group raised their target price on shares of Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Finally, BMO Capital Markets raised their target price on shares of Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.21.

Allstate Stock Down 1.0%

Allstate stock opened at $200.40 on Friday. The company has a market cap of $52.81 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 0.81 and a beta of 0.37. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $214.76. The company has a fifty day simple moving average of $200.99 and a 200 day simple moving average of $200.37. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. The business had revenue of $15.05 billion during 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%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.61 earnings per share. Research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. Allstate's dividend payout ratio (DPR) is currently 18.81%.

Allstate Company 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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