Johnson Investment Counsel Inc. Buys 1,640 Shares of The Allstate Corporation $ALL

Key Points

• Johnson Investment Counsel Inc. increased its ownership of The Allstate Corporation by 10.0%, acquiring an additional 1,640 shares during the second quarter, bringing their total holdings to 18,095 shares valued at approximately $3.64 million.
• Allstate reported a $5.94 EPS for the last quarter, significantly exceeding analysts' expectations of $3.20, alongside a revenue of $15.05 billion despite expectations of $16.59 billion.
• The company announced a quarterly dividend of $1.00 per share, reflecting an annualized payout of $4.00 and a dividend yield of 1.9%.

Johnson Investment Counsel Inc. lifted its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 10.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,095 shares of the insurance provider's stock after buying an additional 1,640 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Allstate were worth $3,643,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Rehmann Capital Advisory Group grew its position in shares of Allstate by 3.2% during the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock worth $338,000 after purchasing an additional 51 shares in the last quarter. Vantage Point Financial LLC grew its position in shares of Allstate by 3.6% during the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock worth $310,000 after purchasing an additional 52 shares in the last quarter. Confluence Wealth Services Inc. grew its position in shares of Allstate by 0.7% during the first quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock worth $1,558,000 after purchasing an additional 54 shares in the last quarter. Linscomb Wealth Inc. grew its position in shares of Allstate by 1.3% during the first quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider's stock worth $845,000 after purchasing an additional 54 shares in the last quarter. Finally, Ancora Advisors LLC grew its position in shares of Allstate by 0.7% during the first quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider's stock worth $1,740,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Price Performance

Shares of Allstate stock opened at $205.59 on Monday. The stock has a market cap of $54.17 billion, a price-to-earnings ratio of 9.67, a price-to-earnings-growth ratio of 0.78 and a beta of 0.38. 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 50 day moving average price of $206.06 and a 200-day moving average price of $201.01. The Allstate Corporation has a one year low of $176.00 and a one year high of $215.70.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.61 EPS. Equities analysts expect 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. Stockholders of record on Friday, August 29th were issued a $1.00 dividend. The ex-dividend date was Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. Allstate's payout ratio is 18.81%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALL. Evercore ISI set a $233.00 target price on Allstate and gave the stock an "in-line" rating in a research report on Wednesday, October 1st. Barclays reiterated an "underweight" rating and set a $198.00 target price (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Jefferies Financial Group raised their price target on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 11th. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. Finally, BMO Capital Markets raised their price target on Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $234.50.

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.

Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Allstate Corporation (NYSE:ALL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.