Invesco LLC Trims Position in The Allstate Corporation $ALL

Key Points

• Invesco LLC has reduced its stake in The Allstate Corporation by 17.2%, now holding 13,304 shares valued at approximately $2.68 million.
• In recent analyst reports, several firms have raised their price targets for Allstate, with a consensus rating of "Moderate Buy" and a price target of $231.38.
• The Allstate Corporation recently reported earnings that significantly exceeded expectations, with an EPS of $5.94 against forecasts of $3.20, and announced a quarterly dividend of $1.00 per share.

Invesco LLC cut its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 17.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,304 shares of the insurance provider's stock after selling 2,769 shares during the period. Allstate accounts for approximately 1.0% of Invesco LLC's portfolio, making the stock its 27th largest holding. Invesco LLC's holdings in Allstate were worth $2,678,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Arlington Trust Co LLC grew its position in shares of Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 89 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Allstate during the first quarter worth about $28,000. Meeder Asset Management Inc. increased 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 worth $39,000 after acquiring an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Allstate in the 1st quarter valued at about $43,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Allstate during the 1st quarter valued at about $51,000. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ALL has been the topic of several research analyst reports. UBS Group upped their price objective on shares of Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Jefferies Financial Group raised their price objective on shares of Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Citigroup upgraded shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. Morgan Stanley raised their price target on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods lifted their price target on Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Allstate currently has a consensus rating of "Moderate Buy" and a consensus price target of $231.38.

Allstate Stock Performance

NYSE:ALL opened at $212.76 on Monday. The business has a 50 day moving average price of $203.12 and a 200-day moving average price of $200.83. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $214.76. 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 firm has a market cap of $56.06 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 0.84 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. The business had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 EPS. Equities research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently announced 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 1.9%. 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.

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