Groupe la Francaise Grows Holdings in The Allstate Corporation $ALL

Key Points

• Groupe la Francaise increased its stake in The Allstate Corporation by 9.9%, acquiring a total of 16,501 shares valued at approximately $3.45 million, according to a recent SEC filing.
• Allstate reported earnings of $5.94 per share for the last quarter, significantly exceeding analysts' expectations of $3.20, while total revenue was $15.05 billion, lower than expected.
• The company declared a quarterly dividend of $1.00 per share, with an annualized yield of 1.9%, set to be paid on October 1st to shareholders of record as of August 29th.

Groupe la Francaise raised its position in The Allstate Corporation (NYSE:ALL - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,501 shares of the insurance provider's stock after acquiring an additional 1,490 shares during the period. Groupe la Francaise's holdings in Allstate were worth $3,453,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ALL. Bank of America Corp DE boosted its stake in Allstate by 157.9% in the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after acquiring an additional 4,035,629 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $2,424,710,000 after acquiring an additional 2,374,684 shares in the last quarter. Boston Partners boosted its stake in Allstate by 613.9% in the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock valued at $512,627,000 after acquiring an additional 2,134,893 shares in the last quarter. GAMMA Investing LLC boosted its stake in Allstate by 25,026.1% in the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after acquiring an additional 1,268,825 shares in the last quarter. Finally, Castle Hook Partners LP raised its holdings in shares of Allstate by 1,303.3% in the fourth quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock worth $159,021,000 after buying an additional 766,058 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of Allstate stock traded up $0.89 during trading on Tuesday, hitting $202.97. 1,498,147 shares of the company's stock were exchanged, compared to its average volume of 1,516,677. 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 simple moving average of $199.31 and a 200-day simple moving average of $199.21. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $214.76. The stock has a market capitalization of $53.49 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.82 and a beta of 0.35.

Allstate (NYSE:ALL - Get Free Report) last issued 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. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. During the same quarter last year, the company posted $1.61 earnings per share. The firm's revenue was up 5.8% compared to the same quarter last year. On average, research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Wells Fargo & Company set a $202.00 price target on shares of Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. BMO Capital Markets raised their price target on shares of Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $260.00 price target (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. Finally, UBS Group raised 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. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Allstate currently has an average rating of "Moderate Buy" and a consensus price target of $230.73.

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.