Jones Financial Companies Lllp Has $13.60 Million Holdings in The Allstate Corporation $ALL

Key Points

• Jones Financial Companies Lllp reduced its stake in The Allstate Corporation by 42.0%, holding 71,803 shares worth approximately $13.60 million after selling 51,988 shares in the first quarter.
• Allstate reported strong earnings of $5.94 per share, significantly exceeding analysts' expectations, with revenues totaling $15.05 billion for the quarter.
• The company declared a quarterly dividend of $1.00 per share, reflecting an annualized yield of 2.0% and a dividend payout ratio of 18.81%.

Jones Financial Companies Lllp trimmed its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 42.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,803 shares of the insurance provider's stock after selling 51,988 shares during the period. Jones Financial Companies Lllp's holdings in Allstate were worth $13,601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its stake in Allstate by 30.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider's stock worth $2,352,000 after purchasing an additional 2,643 shares in the last quarter. Atlas Capital Advisors Inc. lifted its stake in Allstate by 197.3% in the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider's stock valued at $1,390,000 after buying an additional 4,454 shares in the last quarter. Richard Bernstein Advisors LLC acquired a new position in shares of Allstate in the first quarter valued at approximately $3,341,000. Dock Street Asset Management Inc. bought a new stake in shares of Allstate during the first quarter worth $207,000. Finally, First Citizens Bank & Trust Co. raised its holdings in shares of Allstate by 5.5% during the first quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock worth $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.

Allstate Stock Down 0.6%

NYSE:ALL opened at $200.41 on Tuesday. The firm has a market capitalization of $52.81 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 0.81 and a beta of 0.37. 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 $214.76. The stock's 50 day moving average price is $200.70 and its two-hundred day moving average price is $200.21.

Allstate (NYSE:ALL - Get Free Report) last issued 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 business had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.61 earnings per share. Equities research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. Allstate's dividend payout ratio (DPR) is presently 18.81%.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of research analyst reports. Barclays reaffirmed an "underweight" rating and issued a $198.00 target price (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. UBS Group increased their price objective on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. William Blair began coverage on Allstate in a research report on Friday, June 6th. They issued a "sector outperform" rating on the stock. Morgan Stanley upped their price target on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, BMO Capital Markets lifted their price objective on shares of Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $231.21.

Allstate Company 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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