Goldman Sachs Group Inc. Purchases 497,982 Shares of The Allstate Corporation $ALL

Key Points

• Goldman Sachs Group Inc. increased its holdings in The Allstate Corporation by 27.2%, owning approximately 2.33 million shares valued at $482.07 million.
• The Allstate Corporation recently declared a quarterly dividend of $1.00, reflecting an annualized payout of $4.00 and a 2.0% dividend yield.
• Analysts have varying opinions on Allstate, with a consensus rating of "Moderate Buy" and a target price of $231.21, indicating positive outlooks from multiple institutional reviewers.

Goldman Sachs Group Inc. increased its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 27.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,328,070 shares of the insurance provider's stock after buying an additional 497,982 shares during the period. Goldman Sachs Group Inc. owned 0.88% of Allstate worth $482,073,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Hughes Financial Services LLC bought a new position in Allstate during the first quarter worth $28,000. Meeder Asset Management Inc. increased its position in shares of Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after acquiring an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Allstate during the first quarter worth about $43,000. Mattson Financial Services LLC bought a new stake in shares of Allstate during the fourth quarter worth about $44,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Allstate during the first quarter worth about $51,000. Institutional investors own 76.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ALL shares. Morgan Stanley boosted their target price on shares of Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. UBS Group boosted their price target on shares of Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Barclays restated an "underweight" rating and set a $198.00 price target (up from $188.00) on shares of Allstate in a report on Thursday, July 31st. Finally, Citigroup upgraded shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. One 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 company. According to MarketBeat.com, Allstate presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.21.

Allstate Stock Performance

ALL traded down $2.07 during midday trading on Friday, reaching $200.40. The company had a trading volume of 1,136,388 shares, compared to its average volume of 1,691,035. The stock has a market cap of $52.81 billion, a PE ratio of 9.42, a P/E/G ratio of 0.80 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. The business has a 50-day moving average price of $200.92 and a two-hundred day moving average price of $200.30. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. The company had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. Allstate's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.61 EPS. On average, sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be paid a dividend of $1.00 per share. 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 dividend payout ratio is presently 18.81%.

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.