Goldman Sachs Group Inc. grew its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 27.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,328,070 shares of the insurance provider's stock after purchasing an additional 497,982 shares during the quarter. Goldman Sachs Group Inc. owned about 0.88% of Allstate worth $482,073,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Hughes Financial Services LLC acquired a new stake in Allstate in the first quarter valued at $28,000. Kapitalo Investimentos Ltda bought a new stake in shares of Allstate in the 4th quarter valued at about $29,000. Meeder Asset Management Inc. lifted its stake in Allstate by 113.8% in the 1st 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 last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Allstate in the 4th quarter valued at about $40,000. Finally, McClarren Financial Advisors Inc. bought a new position in Allstate during the first quarter worth about $43,000. Institutional investors own 76.47% of the company's stock.
Allstate Trading Down 2.0%
Shares of NYSE:ALL opened at $204.86 on Friday. The business's 50 day simple moving average is $198.37 and its 200 day simple moving average is $197.65. The Allstate Corporation has a 1 year low of $169.20 and a 1 year high of $213.18. 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 company has a market capitalization of $53.98 billion, a P/E ratio of 9.63, a P/E/G ratio of 0.87 and a beta of 0.35.
Allstate (NYSE:ALL - Get Free Report) last released its 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 return on equity of 28.74% and a net margin of 8.79%. Allstate's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.61 EPS. On average, research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.
Allstate Announces Dividend
The company 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 $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate's payout ratio is presently 18.81%.
Analysts Set New Price Targets
Several analysts have issued reports on ALL shares. Evercore ISI upped their price objective on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a report on Friday, May 16th. William Blair began coverage on shares of Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating for the company. Wells Fargo & Company set a $202.00 price objective on shares of Allstate and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods upped their price target on shares of Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Allstate currently has a consensus rating of "Moderate Buy" and a consensus target price of $230.00.
View Our Latest Analysis on Allstate
Allstate Profile
(
Free Report)
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.
See Also
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