MetLife Investment Management LLC Has $14.61 Million Position in The Allstate Corporation $ALL

Key Points

• MetLife Investment Management LLC has reduced its stake in The Allstate Corporation by 1.8%, selling 1,284 shares, and now holds 70,570 shares valued at approximately $14.6 million.
• The Allstate Corporation recently reported earnings of $5.94 per share for the last quarter, significantly outperforming expectations of $3.20, despite revenues falling short of estimates.
• Analysts have mixed views on Allstate, with a consensus rating of "Moderate Buy" and a target price of $230.73, reflecting a range of upgrades and downgrades from various financial institutions.

MetLife Investment Management LLC trimmed its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,570 shares of the insurance provider's stock after selling 1,284 shares during the period. MetLife Investment Management LLC's holdings in Allstate were worth $14,613,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC purchased a new position in Allstate during the 1st quarter worth approximately $28,000. Kapitalo Investimentos Ltda purchased a new position in Allstate during the 4th quarter worth approximately $29,000. Meeder Asset Management Inc. grew its position in Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after purchasing an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in Allstate during the 1st quarter worth approximately $43,000. Finally, Mattson Financial Services LLC purchased a new position in Allstate during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Performance

Allstate stock traded up $0.15 on Thursday, reaching $203.96. 1,016,022 shares of the stock were exchanged, compared to its average volume of 1,468,997. The stock has a market cap of $53.74 billion, a PE ratio of 9.59, a PEG ratio of 0.83 and a beta of 0.35. The company has a current ratio of 0.43, a quick 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 firm has a fifty day moving average price of $199.64 and a two-hundred day moving average price of $199.36.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the previous year, the firm posted $1.61 EPS. The business's revenue was up 5.8% compared to the same quarter last year. Sell-side analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given a $1.00 dividend. 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 payout ratio is 18.81%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ALL shares. Morgan Stanley lifted their price objective on shares of Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Cantor Fitzgerald raised shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. William Blair began coverage on shares of Allstate in a research note on Friday, June 6th. They set a "sector outperform" rating for the company. Barclays reissued an "underweight" rating and set a $198.00 target price (up previously from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Finally, Jefferies Financial Group lifted their target price on shares of Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Allstate presently has an average rating of "Moderate Buy" and an average price target of $230.73.

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.