Glenview Trust co Boosts Stake in The Allstate Corporation $ALL

Key Points

• Glenview Trust co increased its stake in The Allstate Corporation by 2.6% during the first quarter, owning 143,072 shares worth approximately $29.6 million.
• The Allstate Corporation reported earnings of $5.94 EPS for its latest quarter, significantly surpassing analyst estimates of $3.20, while revenue came in at $15.05 billion.
• The company declared a quarterly dividend of $1.00 per share, reflecting an annualized dividend of $4.00 and a yield of 2.0%.

Glenview Trust co increased its position in The Allstate Corporation (NYSE:ALL - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,072 shares of the insurance provider's stock after acquiring an additional 3,668 shares during the period. Glenview Trust co owned about 0.05% of Allstate worth $29,626,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hughes Financial Services LLC bought a new stake in shares of Allstate in the first quarter worth $28,000. Meeder Asset Management Inc. grew its holdings in Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 99 shares during the period. McClarren Financial Advisors Inc. bought a new stake in Allstate during the first quarter valued at about $43,000. Mattson Financial Services LLC bought a new stake in Allstate during the fourth quarter valued at about $44,000. Finally, 1 North Wealth Services LLC bought a new stake in Allstate during the first quarter valued at about $51,000. Institutional investors own 76.47% of the company's stock.

Allstate Price Performance

Shares of Allstate stock traded down $2.07 during trading hours on Friday, hitting $200.40. The company's stock had a trading volume of 1,136,388 shares, compared to its average volume of 1,202,326. The business has a 50 day moving average price of $200.99 and a two-hundred day moving average price of $200.37. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $214.76. The company has a market cap of $52.81 billion, a PE ratio of 9.42, a PEG ratio of 0.81 and a beta of 0.37. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating the consensus estimate of $3.20 by $2.74. The business had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.61 earnings per share. Analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently announced 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. Allstate's payout ratio is currently 18.81%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ALL. BMO Capital Markets boosted their price target on Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Cantor Fitzgerald raised Allstate to a "hold" rating in a report on Wednesday, August 13th. Citigroup raised Allstate to a "hold" rating in a report on Wednesday, August 13th. Barclays reissued an "underweight" rating and set a $198.00 price target (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. Finally, UBS Group boosted their price objective on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. One equities 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.