Jacobs Asset Management LLC Lowers Stock Position in The Allstate Corporation $ALL

Key Points

• Jacobs Asset Management LLC has reduced its holdings in The Allstate Corporation by 11.8%, selling 6,500 shares to maintain a total of 48,500 shares, which constitutes 6.3% of their portfolio.
• Allstate recently reported earnings of $5.94 per share, significantly exceeding analysts' expectations of $3.20, although its revenue fell short of estimates at $15.05 billion.
• The company announced a quarterly dividend of $1.00 per share, resulting in an annualized dividend yield of 2.0%, with a payout ratio of 18.81%.

Jacobs Asset Management LLC lessened its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 11.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,500 shares of the insurance provider's stock after selling 6,500 shares during the period. Allstate accounts for about 6.3% of Jacobs Asset Management LLC's portfolio, making the stock its 4th largest position. Jacobs Asset Management LLC's holdings in Allstate were worth $10,043,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC boosted its position in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after purchasing an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in Allstate during the 4th quarter worth approximately $231,000. MML Investors Services LLC boosted its holdings in Allstate by 51.1% in the fourth quarter. MML Investors Services LLC now owns 10,634 shares of the insurance provider's stock worth $2,050,000 after acquiring an additional 3,595 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of Allstate by 3.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 8,483 shares of the insurance provider's stock valued at $1,635,000 after acquiring an additional 303 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Allstate during the fourth quarter worth approximately $4,940,000. 76.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. William Blair assumed coverage on shares of Allstate in a research report on Friday, June 6th. They issued a "sector outperform" rating for the company. Morgan Stanley lifted their price objective on shares of Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wells Fargo & Company set a $202.00 target price on shares of Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group boosted their price objective on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Allstate currently has an average rating of "Moderate Buy" and an average price target of $230.73.

Allstate Stock Up 0.1%

NYSE:ALL traded up $0.15 on Thursday, hitting $203.96. The stock had a trading volume of 1,016,022 shares, compared to its average volume of 1,468,997. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $214.76. The firm's fifty day simple moving average is $199.64 and its two-hundred day simple moving average is $199.36. 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 has a market cap of $53.74 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 0.83 and a beta of 0.35.

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

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 29th. Allstate's dividend 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.