Janney Montgomery Scott LLC Has $14.89 Million Holdings in The Allstate Corporation $ALL

Key Points

• Janney Montgomery Scott LLC increased its stake in The Allstate Corporation by 11.9%, now owning 73,974 shares valued at approximately $14.89 million.
• Allstate's latest quarterly earnings showed earnings per share of $5.94, significantly beating expectations, while revenue was reported at $15.05 billion, below analyst forecasts.
• Institutions control 76.47% of Allstate's stock, with various investment firms adjusting their positions in the company recently.

Janney Montgomery Scott LLC increased its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 11.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,974 shares of the insurance provider's stock after buying an additional 7,878 shares during the quarter. Janney Montgomery Scott LLC's holdings in Allstate were worth $14,892,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ALL. Sequoia Financial Advisors LLC raised its stake in Allstate by 30.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider's stock valued at $2,352,000 after acquiring an additional 2,643 shares during the period. Atlas Capital Advisors Inc. raised its stake in Allstate by 197.3% in the 1st quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider's stock valued at $1,390,000 after acquiring an additional 4,454 shares during the period. Richard Bernstein Advisors LLC bought a new stake in Allstate in the 1st quarter valued at $3,341,000. Dock Street Asset Management Inc. bought a new stake in Allstate in the 1st quarter valued at $207,000. Finally, First Citizens Bank & Trust Co. raised its stake in Allstate by 5.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock valued at $11,906,000 after acquiring an additional 2,981 shares during the period. Institutional investors and hedge funds own 76.47% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ALL shares. Evercore ISI set a $233.00 price target on Allstate and gave the company an "in-line" rating in a research note on Wednesday. Wells Fargo & Company set a $202.00 price objective on Allstate and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. BMO Capital Markets increased their price objective on Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Wolfe Research upgraded Allstate to a "strong-buy" rating in a research report on Tuesday, September 16th. Finally, Roth Capital set a $230.00 price target on Allstate and gave the stock a "buy" rating in a research report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Allstate presently has an average rating of "Moderate Buy" and an average price target of $231.56.

Allstate Stock Performance

NYSE:ALL opened at $210.00 on Friday. The stock's 50-day simple moving average is $204.42 and its 200 day simple moving average is $201.01. The firm has a market capitalization of $55.34 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 0.83 and a beta of 0.38. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.70.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 28.74% and a net margin of 8.79%.Allstate's revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $1.61 earnings per share. On average, analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, August 29th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 1.9%. Allstate's dividend payout ratio (DPR) is 18.81%.

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.

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