Gulf International Bank UK Ltd Sells 5,397 Shares of The Allstate Corporation (NYSE:ALL)

Key Points

• Gulf International Bank UK Ltd reduced its stake in The Allstate Corporation by 26.2% in Q1, selling 5,397 shares, leaving them with 15,173 shares valued at approximately $3.14 million.
• Analysts have varied ratings for Allstate, with one sell, two hold, fifteen buy, and one strong buy, making the average rating a "Moderate Buy" with a price target of $227.50.
• Allstate recently announced a quarterly dividend of $1.00 per share, with an annualized yield of 1.9% and a dividend payout ratio of 18.81%.

Gulf International Bank UK Ltd decreased its position in The Allstate Corporation (NYSE:ALL - Free Report) by 26.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,173 shares of the insurance provider's stock after selling 5,397 shares during the quarter. Gulf International Bank UK Ltd's holdings in Allstate were worth $3,141,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ALL. Rehmann Capital Advisory Group raised its stake in shares of Allstate by 3.2% in the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock worth $338,000 after buying an additional 51 shares during the period. Vantage Point Financial LLC raised its stake in Allstate by 3.6% during the 1st quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock valued at $310,000 after purchasing an additional 52 shares during the period. Confluence Wealth Services Inc. raised its stake in Allstate by 0.7% during the 1st quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock valued at $1,558,000 after purchasing an additional 54 shares during the period. Linscomb Wealth Inc. raised its stake in Allstate by 1.3% during the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider's stock valued at $845,000 after purchasing an additional 54 shares during the period. Finally, Achmea Investment Management B.V. raised its stake in Allstate by 0.3% during the 1st quarter. Achmea Investment Management B.V. now owns 20,586 shares of the insurance provider's stock valued at $4,262,000 after purchasing an additional 57 shares during the period. Institutional investors own 76.47% of the company's stock.

Allstate Trading Down 0.9%

Shares of ALL stock traded down $1.94 on Friday, reaching $206.76. 1,049,492 shares of the company's stock were exchanged, compared to its average volume of 1,575,931. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The company's fifty day simple moving average is $198.15 and its 200 day simple moving average is $198.44. The stock has a market capitalization of $54.48 billion, a PE ratio of 9.72, a P/E/G ratio of 0.86 and a beta of 0.35. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. The business had revenue of $15.05 billion during 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 revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 EPS. As a group, analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given a dividend of $1.00 per share. 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 1.9%. Allstate's payout ratio is 18.81%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALL. Keefe, Bruyette & Woods lifted their target price on Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. Barclays reissued an "underweight" rating and set a $198.00 target price (up previously from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Wells Fargo & Company set a $202.00 price target on Allstate and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald upgraded Allstate to a "hold" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $229.33.

About Allstate

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.