J. Safra Sarasin Holding AG Lowers Position in The Allstate Corporation $ALL

Key Points

• J. Safra Sarasin Holding AG reduced its stake in The Allstate Corporation by 17.6%, decreasing its holdings to 82,761 shares valued at approximately $16.66 million.
• Analysts have given Allstate a consensus rating of "Moderate Buy" with an average price target of $231.56, highlighting varied perspectives on its stock performance.
• Allstate recently reported earnings of $5.94 per share, significantly exceeding the consensus estimate of $3.20, while also announcing a quarterly dividend of $1.00 per share.

J. Safra Sarasin Holding AG cut its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 17.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,761 shares of the insurance provider's stock after selling 17,638 shares during the period. J. Safra Sarasin Holding AG's holdings in Allstate were worth $16,661,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Allstate by 25.4% during 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 purchasing an additional 2,374,684 shares in the last quarter. Boston Partners increased its stake in Allstate by 613.9% in the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock valued at $512,627,000 after buying an additional 2,134,893 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Allstate by 27.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock valued at $482,073,000 after buying an additional 497,982 shares during the last quarter. Strs Ohio purchased a new position in shares of Allstate in the 1st quarter worth approximately $84,408,000. Finally, AQR Capital Management LLC boosted its stake in shares of Allstate by 20.3% in the 1st quarter. AQR Capital Management LLC now owns 2,018,403 shares of the insurance provider's stock worth $417,244,000 after buying an additional 340,150 shares during the last quarter. Institutional investors own 76.47% of the company's stock.

Wall Street Analyst Weigh In

ALL has been the topic of a number of recent analyst reports. Barclays reiterated an "underweight" rating and set a $198.00 price target (up from $188.00) on shares of Allstate in a report on Thursday, July 31st. William Blair started coverage on Allstate in a research note on Friday, June 6th. They set a "sector outperform" rating on the stock. Evercore ISI set a $233.00 price target on shares of Allstate and gave the stock an "in-line" rating in a report on Wednesday. Morgan Stanley raised their price objective on shares of Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Wolfe Research raised shares of Allstate to a "strong-buy" rating in a research report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $231.56.

Allstate Trading Down 0.3%

Shares of Allstate stock opened at $210.00 on Friday. The stock has a market capitalization of $55.34 billion, a P/E ratio of 9.87, a P/E/G ratio of 0.83 and a beta of 0.38. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $215.70. 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 stock's 50-day simple moving average is $204.42 and its 200 day simple moving average is $201.01.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share 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 the consensus estimate of $16.59 billion. During the same quarter last year, the company earned $1.61 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. As a group, research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th were given a dividend of $1.00 per share. The ex-dividend date was Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate's dividend payout ratio is currently 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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