Norinchukin Bank The Raises Stock Holdings in The Allstate Corporation $ALL

Key Points

• Norinchukin Bank increased its holdings in The Allstate Corporation by 15.6%, acquiring a total of 13,936 shares valued at approximately $2.89 million.
• Research analysts are optimistic about Allstate, with several firms raising their target prices, including UBS and Morgan Stanley, who set new targets of $235.00 and $245.00 respectively.
• Allstate announced a quarterly dividend of $1.00 per share, reflecting a 1.9% dividend yield, with the payment date scheduled for October 1st.

Norinchukin Bank The boosted its position in The Allstate Corporation (NYSE:ALL - Free Report) by 15.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,936 shares of the insurance provider's stock after acquiring an additional 1,880 shares during the period. Norinchukin Bank The's holdings in Allstate were worth $2,886,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of Allstate by 157.9% during the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock worth $1,270,705,000 after purchasing an additional 4,035,629 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 during the period. Boston Partners lifted its stake in Allstate by 613.9% in the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock worth $512,627,000 after acquiring an additional 2,134,893 shares during the period. GAMMA Investing LLC lifted its stake in Allstate by 25,026.1% in the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock worth $263,785,000 after acquiring an additional 1,268,825 shares during the period. Finally, Castle Hook Partners LP raised its holdings in Allstate by 1,303.3% in the fourth quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock worth $159,021,000 after purchasing an additional 766,058 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Performance

Shares of ALL stock traded up $0.67 during trading hours on Wednesday, reaching $203.85. 857,628 shares of the company traded hands, compared to its average volume of 1,719,794. 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 company has a market cap of $53.72 billion, a P/E ratio of 9.58, a P/E/G ratio of 0.82 and a beta of 0.35. The firm has a 50-day moving average price of $199.31 and a 200 day moving average price of $199.21.

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, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $16.59 billion. During the same period in the previous year, the firm earned $1.61 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. Allstate's payout ratio is currently 18.81%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALL shares. Barclays reaffirmed an "underweight" rating and issued a $198.00 price target (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Evercore ISI lifted their price objective on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. BMO Capital Markets boosted their price target on Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Cantor Fitzgerald upgraded Allstate to a "hold" rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley boosted their price target on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $230.73.

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.