LPL Financial LLC Grows Stake in The Allstate Corporation (NYSE:ALL)

Key Points

• LPL Financial LLC increased its stake in The Allstate Corporation by 4.8%, acquiring an additional 11,979 shares, bringing its total holdings to 262,190 shares valued at approximately $54.29 million.
• Several institutional investors, including Bank of America Corp DE and Price T Rowe Associates Inc. MD, have significantly increased their positions in Allstate, highlighting strong institutional interest in the company.
• The Allstate Corporation recently announced a quarterly dividend of $1.00 per share, with an annualized dividend yield of 2.0%, and a reported EPS of $5.94 for the last quarter, surpassing analyst expectations.

LPL Financial LLC boosted its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 262,190 shares of the insurance provider's stock after purchasing an additional 11,979 shares during the quarter. LPL Financial LLC owned about 0.10% of Allstate worth $54,292,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Price T Rowe Associates Inc. MD grew its holdings in shares of Allstate by 2.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock valued at $1,799,681,000 after buying an additional 218,771 shares during the last quarter. Bank of America Corp DE raised its position in Allstate by 157.9% in the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after buying an additional 4,035,629 shares during the last quarter. Invesco Ltd. lifted its stake in Allstate by 3.0% during the 4th quarter. Invesco Ltd. now owns 3,681,306 shares of the insurance provider's stock valued at $709,719,000 after acquiring an additional 106,730 shares in the last quarter. Northern Trust Corp boosted its holdings in Allstate by 15.8% during the 4th quarter. Northern Trust Corp now owns 3,496,017 shares of the insurance provider's stock worth $673,997,000 after acquiring an additional 477,221 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Allstate by 7.2% during the 4th quarter. Deutsche Bank AG now owns 3,233,681 shares of the insurance provider's stock worth $623,421,000 after acquiring an additional 217,468 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ALL shares. Raymond James Financial reissued a "strong-buy" rating and set a $250.00 price target (up from $240.00) on shares of Allstate in a research report on Monday, May 5th. Evercore ISI increased their price target on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Barclays reissued an "underweight" rating and issued a $198.00 price objective (up previously from $188.00) on shares of Allstate in a research report on Thursday. Wells Fargo & Company decreased their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Finally, William Blair began coverage on Allstate in a research note on Friday, June 6th. They set a "sector outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $228.40.

Allstate Stock Performance

Allstate stock traded down $3.54 during mid-day trading on Friday, reaching $199.71. The company's stock had a trading volume of 2,041,482 shares, compared to its average volume of 1,619,968. The firm's fifty day moving average price is $198.44 and its two-hundred day moving average price is $197.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.40 and a current ratio of 0.43. The Allstate Corporation has a 12-month low of $168.36 and a 12-month high of $213.18. The company has a market capitalization of $52.63 billion, a P/E ratio of 9.39, a PEG ratio of 1.06 and a beta of 0.35.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly 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. Allstate had a return on equity of 28.74% and a net margin of 8.79%. The firm had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same period last year, the company earned $1.61 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate's dividend payout ratio is currently 27.32%.

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.