National Bank of Canada FI Has $46.87 Million Holdings in The Allstate Corporation (NYSE:ALL)

Key Points

• National Bank of Canada FI has increased its stake in The Allstate Corporation by 16.0%, now holding 226,356 shares valued at approximately $46.87 million.
• The Allstate Corporation recently reported quarterly earnings of $5.94 per share, significantly surpassing analysts' expectations of $3.20, and had a revenue of $15.05 billion.
• Allstate declared a quarterly dividend of $1.00 per share, representing an annualized dividend of $4.00 and a yield of 1.9%.

National Bank of Canada FI increased its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 16.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,356 shares of the insurance provider's stock after purchasing an additional 31,197 shares during the period. National Bank of Canada FI owned approximately 0.09% of Allstate worth $46,872,000 as of its most recent SEC filing.

Other large 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 first quarter worth about $28,000. Kapitalo Investimentos Ltda purchased a new position in Allstate during the fourth quarter worth about $29,000. Meeder Asset Management Inc. raised its holdings in Allstate by 113.8% during the first 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 first quarter worth about $43,000. Finally, Mattson Financial Services LLC purchased a new position in Allstate during the fourth quarter worth about $44,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALL. Jefferies Financial Group increased their target price on shares of Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday. Cantor Fitzgerald initiated coverage on shares of Allstate in a research report on Tuesday. They issued a "neutral" rating and a $202.00 price target on the stock. Evercore ISI raised their target price on shares of Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Raymond James Financial restated a "strong-buy" rating and set a $260.00 target price (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. Finally, Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $227.50.

Allstate Stock Up 1.2%

ALL stock traded up $2.49 during mid-day trading on Wednesday, hitting $209.25. 53,104 shares of the company were exchanged, compared to its average volume of 1,746,626. The company has a market capitalization of $55.14 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 0.86 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 $175.76 and a twelve month high of $213.18. The firm has a fifty day simple moving average of $198.10 and a 200 day simple moving average of $198.15.

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, beating 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 business had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same period in the previous year, the business posted $1.61 EPS. The company's quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed 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 1.9%. Allstate's payout ratio is currently 18.81%.

About Allstate

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.