NFJ Investment Group LLC Sells 51,882 Shares of The Allstate Corporation $ALL

Key Points

• NFJ Investment Group LLC significantly reduced its holdings in The Allstate Corporation by 86.9%, now holding 7,823 shares worth $1.62 million.
• Allstate recently announced a $1.00 quarterly dividend with an annualized yield of 2.0%, which will be paid on October 1st to shareholders of record as of August 29th.
• Analysts have a consensus rating of "Moderate Buy" for Allstate, with a target price of $231.21, following various upgrades and ratings changes from institutions.

NFJ Investment Group LLC trimmed its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 86.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,823 shares of the insurance provider's stock after selling 51,882 shares during the period. NFJ Investment Group LLC's holdings in Allstate were worth $1,620,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Allstate by 25.4% in 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 buying an additional 2,374,684 shares during the period. Boston Partners lifted its stake in shares of Allstate by 613.9% in the first 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 during the period. GAMMA Investing LLC lifted its stake in shares of Allstate by 25,026.1% in the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after buying an additional 1,268,825 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Allstate by 261.6% in the fourth quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock valued at $160,575,000 after buying an additional 602,533 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Allstate by 27.2% in the first 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 during the period. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. 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 research note on Monday, August 11th. Cantor Fitzgerald upgraded shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. Citigroup upgraded shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. UBS Group raised their price target on shares of Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, BMO Capital Markets raised their price target on shares of Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and an average target price of $231.21.

Allstate Stock Up 0.6%

ALL traded up $1.10 during trading on Thursday, hitting $201.13. The company had a trading volume of 400,253 shares, compared to its average volume of 1,688,915. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $53.00 billion, a PE ratio of 9.46, a PEG ratio of 0.80 and a beta of 0.37. The Allstate Corporation has a one year low of $176.00 and a one year high of $214.76. The firm's 50-day moving average price is $200.80 and its 200 day moving average price is $200.21.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $16.59 billion. During the same period last year, the business earned $1.61 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The business 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 is Friday, August 29th. Allstate's payout ratio is 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.