Invesco LLC Acquires 1,458 Shares of The Allstate Corporation (NYSE:ALL)

Invesco LLC lifted its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 10.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,073 shares of the insurance provider's stock after purchasing an additional 1,458 shares during the period. Allstate accounts for 1.4% of Invesco LLC's portfolio, making the stock its 19th largest position. Invesco LLC's holdings in Allstate were worth $3,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Vantage Point Financial LLC boosted its stake in Allstate by 3.6% in the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock valued at $310,000 after acquiring an additional 52 shares during the last quarter. Intrust Bank NA lifted its stake in Allstate by 0.5% in the fourth quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider's stock valued at $2,340,000 after buying an additional 61 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Allstate by 4.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,505 shares of the insurance provider's stock worth $290,000 after purchasing an additional 63 shares during the period. Miracle Mile Advisors LLC grew its holdings in shares of Allstate by 1.7% during the first quarter. Miracle Mile Advisors LLC now owns 3,777 shares of the insurance provider's stock worth $782,000 after buying an additional 63 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Allstate by 28.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 302 shares of the insurance provider's stock valued at $58,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

ALL has been the subject of several recent research reports. Evercore ISI increased their price target on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. Morgan Stanley lifted their price objective on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Finally, Barclays lowered their price objective on Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $225.20.

Allstate Trading Down 1.1%

NYSE ALL traded down $2.22 during mid-day trading on Tuesday, reaching $196.12. 1,761,042 shares of the stock were exchanged, compared to its average volume of 1,615,361. The stock has a market cap of $51.94 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.02 and a beta of 0.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40. The Allstate Corporation has a one year low of $157.48 and a one year high of $213.18. The stock has a 50 day simple moving average of $200.87 and a 200-day simple moving average of $196.54.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 6.19% and a return on equity of 24.62%. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.13 earnings per share. On average, analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th will be issued a dividend of $1.00 per share. The ex-dividend date is Monday, June 9th. This represents a $4.00 annualized dividend and a dividend yield of 2.04%. Allstate's dividend payout ratio is currently 27.32%.

Allstate announced that its board has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

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.