KBC Group NV Has $45.50 Million Stock Position in The Allstate Corporation (NYSE:ALL)

KBC Group NV cut its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 219,732 shares of the insurance provider's stock after selling 11,518 shares during the period. KBC Group NV owned approximately 0.08% of Allstate worth $45,500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALL. Bank of America Corp DE increased its holdings in Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock worth $1,270,705,000 after purchasing an additional 4,035,629 shares in the last quarter. Norges Bank bought a new stake in Allstate during the fourth quarter worth $344,354,000. GQG Partners LLC raised its position in Allstate by 64.1% in the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock valued at $832,181,000 after buying an additional 1,685,694 shares during the last quarter. GAMMA Investing LLC lifted its stake in Allstate by 25,026.1% during the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after acquiring an additional 1,268,825 shares in the last quarter. Finally, Castle Hook Partners LP boosted its holdings in Allstate by 1,303.3% during the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock worth $159,021,000 after acquiring an additional 766,058 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ALL shares. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Barclays decreased their price objective on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Evercore ISI boosted their target price on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Morgan Stanley increased their price target on Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Finally, William Blair initiated coverage on Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.20.

Allstate Stock Up 0.8%

ALL stock opened at $195.67 on Monday. The stock has a fifty day moving average of $200.85 and a 200-day moving average of $196.52. The Allstate Corporation has a fifty-two week low of $157.50 and a fifty-two week high of $213.18. The company has a market capitalization of $51.82 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.02 and a beta of 0.35. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). The business had revenue of $14.30 billion for the quarter, compared to analysts' expectations of $16.41 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. Allstate's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $5.13 earnings per share. As a group, equities research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Monday, June 9th. Allstate's payout ratio is currently 27.32%.

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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