Hancock Whitney Corp Increases Holdings in The Allstate Corporation $ALL

Key Points

• Hancock Whitney Corp increased its stake in The Allstate Corporation by 5.8% during the 1st quarter, now owning 102,722 shares worth approximately $21.27 million.
• Equities research analysts have raised their price targets for Allstate, with Keefe, Bruyette & Woods setting a new target of $246.00 and maintaining an "outperform" rating.
• The Allstate Corporation announced a quarterly dividend of $1.00 per share, payable on October 1st, representing a 2.0% yield and an annualized payout of $4.00.

Hancock Whitney Corp lifted its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 5.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,722 shares of the insurance provider's stock after purchasing an additional 5,627 shares during the period. Hancock Whitney Corp's holdings in Allstate were worth $21,271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALL. Hughes Financial Services LLC acquired a new stake in shares of Allstate during the first quarter worth about $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 purchasing an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in shares of Allstate during the first quarter worth about $43,000. Mattson Financial Services LLC acquired a new stake in shares of Allstate during the fourth quarter worth about $44,000. Finally, 1 North Wealth Services LLC acquired a new position in Allstate in the 1st quarter valued at about $51,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Analyst Ratings Changes

ALL has been the topic of several recent research reports. Cantor Fitzgerald upgraded Allstate to a "hold" rating in a research report on Wednesday, August 13th. BMO Capital Markets boosted their price target on Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Raymond James Financial restated a "strong-buy" rating and issued a $260.00 price target (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. UBS Group boosted their price target on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Barclays restated an "underweight" rating and issued a $198.00 price target (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. One investment 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. Based on data from MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and a consensus price target of $231.21.

Allstate Stock Performance

ALL traded down $1.12 during trading on Monday, reaching $200.41. The company's stock had a trading volume of 1,524,618 shares, compared to its average volume of 1,700,479. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $214.76. The company's fifty day moving average price is $200.72 and its 200-day moving average price is $200.11. The company has a market capitalization of $52.81 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 0.81 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.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data 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 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%.The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.61 EPS. On average, equities analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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