The Allstate Corporation $ALL Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in The Allstate Corporation by 6.2%, now owning 27,756 shares valued at $5,747,000.
• Wall Street analysts have raised price targets for Allstate, with Morgan Stanley increasing theirs from $235.00 to $245.00, indicating a strong outlook for the stock.
• The Allstate Corporation declared a quarterly dividend of $1.00 per share, representing a 2.0% yield, with payment to shareholders on October 1st.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 6.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,756 shares of the insurance provider's stock after acquiring an additional 1,619 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Allstate were worth $5,747,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hughes Financial Services LLC acquired a new position in Allstate in the first quarter valued at approximately $28,000. Meeder Asset Management Inc. lifted its holdings in Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in Allstate in the first quarter valued at approximately $43,000. Mattson Financial Services LLC acquired a new position in Allstate in the fourth quarter valued at approximately $44,000. Finally, 1 North Wealth Services LLC acquired a new position in Allstate in the first quarter valued at approximately $51,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ALL shares. Morgan Stanley boosted their target price on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Jefferies Financial Group boosted their target price on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, August 11th. BMO Capital Markets boosted their target price on Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Raymond James Financial reissued a "strong-buy" rating and issued a $260.00 target price (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. Finally, Cantor Fitzgerald raised Allstate to a "hold" rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $231.21.

Allstate Stock Down 1.0%

Shares of Allstate stock traded down $2.07 during trading hours on Friday, reaching $200.40. 1,136,388 shares of the company were exchanged, compared to its average volume of 1,202,326. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $214.76. The stock's fifty day moving average is $200.99 and its 200 day moving average is $200.37. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $52.81 billion, a PE ratio of 9.42, a PEG ratio of 0.81 and a beta of 0.37.

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

Allstate Dividend Announcement

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

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.