The Allstate Corporation $ALL Shares Bought by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC has increased its stake in The Allstate Corporation (NYSE: ALL) by 7.9%, bringing its total holdings to 28,152 shares valued at $5.83 million.
• Allstate reported a quarterly earnings per share of $5.94, significantly surpassing analysts' estimates of $3.20, despite revenue falling short of expectations at $15.05 billion.
• The company declared a quarterly dividend of $1.00 per share, resulting in an annualized yield of 2.0%, with a payout ratio of 18.81%.

NewEdge Advisors LLC increased its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 7.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,152 shares of the insurance provider's stock after buying an additional 2,061 shares during the quarter. NewEdge Advisors LLC's holdings in Allstate were worth $5,829,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Allstate by 0.5% in the first quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock valued at $6,791,914,000 after buying an additional 164,662 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Allstate by 25.4% during the 1st 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. GQG Partners LLC grew its stake in Allstate by 2.1% during the 1st quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider's stock valued at $912,288,000 after purchasing an additional 89,185 shares in the last quarter. Boston Partners grew its stake in 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 purchasing an additional 2,134,893 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Allstate by 24.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,358,883 shares of the insurance provider's stock valued at $454,769,000 after purchasing an additional 462,613 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ALL shares. UBS Group raised their price objective on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Jefferies Financial Group lifted their target price on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. BMO Capital Markets lifted their target price on Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Morgan Stanley lifted their target price on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Allstate currently has a consensus rating of "Moderate Buy" and an average price target of $231.21.

Allstate Stock Performance

Shares of NYSE ALL traded down $2.07 during mid-day trading on Friday, hitting $200.40. The company had a trading volume of 1,136,388 shares, compared to its average volume of 1,691,035. The stock has a market cap of $52.81 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.80 and a beta of 0.37. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $214.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The firm's 50 day simple moving average is $200.92 and its two-hundred day simple moving average is $200.30.

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

Allstate Announces Dividend

The company 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 (DPR) 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.