Mirae Asset Global Investments Co. Ltd. Grows Position in The Allstate Corporation $ALL

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in The Allstate Corporation by 10.6% in the second quarter, bringing its total shares owned to 30,054 valued at approximately $6.05 million.
• The Allstate Corporation's quarterly earnings showed an EPS of $5.94, exceeding the estimate of $3.20, but reported revenue of $15.05 billion, trailing analyst expectations of $16.59 billion.
• Allstate declared a quarterly dividend of $1.00 per share, which translates to an annual dividend yield of 1.9%, with a low payout ratio of 18.81%.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 10.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 30,054 shares of the insurance provider's stock after purchasing an additional 2,889 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Allstate were worth $6,050,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ALL. Price T Rowe Associates Inc. MD lifted its holdings in Allstate by 25.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock valued at $2,424,710,000 after purchasing an additional 2,374,684 shares in the last quarter. Boston Partners lifted its stake in shares of Allstate by 613.9% during the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock valued at $512,627,000 after buying an additional 2,134,893 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Allstate by 27.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock valued at $482,073,000 after buying an additional 497,982 shares in the last quarter. Strs Ohio bought a new position in Allstate in the 1st quarter worth $84,408,000. Finally, AQR Capital Management LLC increased its stake in Allstate by 20.3% in the 1st quarter. AQR Capital Management LLC now owns 2,018,403 shares of the insurance provider's stock worth $417,244,000 after buying an additional 340,150 shares in the last quarter. Institutional investors own 76.47% of the company's stock.

Allstate Stock Up 0.4%

Shares of NYSE ALL opened at $210.92 on Monday. 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 12-month low of $176.00 and a 12-month high of $215.70. The firm's 50-day moving average price is $204.72 and its 200-day moving average price is $200.97. The stock has a market capitalization of $55.58 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 0.83 and a beta of 0.38.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping the consensus estimate of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same quarter last year, the business posted $1.61 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. On average, equities research analysts anticipate 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 was paid on Wednesday, October 1st. Investors of record on Friday, August 29th were given a $1.00 dividend. The ex-dividend date was Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Allstate's dividend payout ratio (DPR) is currently 18.81%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALL. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $260.00 price objective (up previously from $250.00) on shares of Allstate in a research note on Monday, August 4th. BMO Capital Markets upped their price target on Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Jefferies Financial Group boosted their target price on shares of Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, Barclays reaffirmed an "underweight" rating and set a $198.00 target price (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $231.56.

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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