Korea Investment CORP Acquires 25,920 Shares of The Allstate Corporation $ALL

Key Points

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Korea Investment CORP grew its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 11.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 251,538 shares of the insurance provider's stock after purchasing an additional 25,920 shares during the quarter. Korea Investment CORP owned about 0.09% of Allstate worth $52,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Rehmann Capital Advisory Group raised its holdings in Allstate by 3.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock worth $338,000 after acquiring an additional 51 shares during the period. Vantage Point Financial LLC raised its holdings in Allstate by 3.6% in the 1st quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock worth $310,000 after acquiring an additional 52 shares during the period. Confluence Wealth Services Inc. raised its holdings in Allstate by 0.7% in the 1st quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock worth $1,558,000 after acquiring an additional 54 shares during the period. Linscomb Wealth Inc. raised its holdings in Allstate by 1.3% in the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider's stock worth $845,000 after acquiring an additional 54 shares during the period. Finally, Achmea Investment Management B.V. raised its holdings in Allstate by 0.3% in the 1st quarter. Achmea Investment Management B.V. now owns 20,586 shares of the insurance provider's stock worth $4,262,000 after acquiring an additional 57 shares during the period. Institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

NYSE ALL opened at $207.11 on Tuesday. The stock has a market cap of $54.57 billion, a P/E ratio of 9.74, a PEG ratio of 0.84 and a beta of 0.35. The company's 50-day simple moving average is $198.28 and its 200 day simple moving average is $198.62. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $213.18. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. The business had revenue of $15.05 billion for the quarter, compared to analysts' expectations 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 quarter in the previous year, the firm posted $1.61 earnings per share. As a group, research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company 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 dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio is currently 18.81%.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent analyst reports. Citigroup upgraded shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. Cantor Fitzgerald upgraded shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. William Blair started coverage on shares of Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Allstate in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $229.33.

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.

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