Golden State Equity Partners Invests $684,000 in The Allstate Corporation $ALL

Key Points

• Golden State Equity Partners invested approximately $684,000 in The Allstate Corporation by acquiring 3,396 shares during the 2nd quarter.
• Allstate recently announced a quarterly dividend of $1.00 per share, with an annualized dividend yield of 1.9%, to be paid on October 1st.
• Analysts have a positive outlook on Allstate, with a consensus average price target of $231.47 and several firms upgrading their ratings.

Golden State Equity Partners purchased a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,396 shares of the insurance provider's stock, valued at approximately $684,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Allstate by 0.5% during the first quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock worth $6,791,914,000 after purchasing an additional 164,662 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Allstate by 25.4% in 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 during the last quarter. GQG Partners LLC lifted its holdings in Allstate by 2.1% in the first quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider's stock worth $912,288,000 after acquiring an additional 89,185 shares during the last quarter. Boston Partners lifted its holdings in Allstate by 613.9% in 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 during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Allstate by 27.2% in 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 during the last quarter. Institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

NYSE ALL opened at $206.49 on Tuesday. 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 firm has a market capitalization of $54.41 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 0.82 and a beta of 0.37. The company's fifty day moving average is $201.84 and its two-hundred day moving average is $200.56. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $2.74. The company had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $1.61 EPS. Equities research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate's payout ratio is 18.81%.

Wall Street Analysts Forecast Growth

ALL has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wolfe Research upgraded shares of Allstate to a "strong-buy" rating in a report on Tuesday, September 16th. BMO Capital Markets raised their target price on shares of Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Cantor Fitzgerald upgraded shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. Finally, Barclays restated an "underweight" rating and set a $198.00 target price (up from $188.00) on shares of Allstate in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $231.47.

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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