Northern Trust Corp Sells 82,944 Shares of The Allstate Corporation $ALL

Key Points

• Northern Trust Corp reduced its holdings in The Allstate Corporation by 2.4%, selling 82,944 shares and owning 3,413,073 shares valued at approximately $706.74 million.
• The Allstate Corporation reported $5.94 earnings per share for the latest quarter, significantly exceeding analysts' expectations of $3.20, and had a revenue of $15.05 billion.
• Allstate declared a quarterly dividend of $1.00 per share, with an annualized yield of 1.9% and a payout ratio of 18.81%.

Northern Trust Corp lessened its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 2.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,413,073 shares of the insurance provider's stock after selling 82,944 shares during the period. Northern Trust Corp owned 1.29% of Allstate worth $706,745,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in Allstate during the 1st quarter worth $28,000. Kapitalo Investimentos Ltda acquired a new stake in Allstate during the 4th quarter worth $29,000. Meeder Asset Management Inc. grew its holdings in Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after acquiring an additional 99 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in Allstate during the 1st quarter worth $43,000. Finally, Mattson Financial Services LLC acquired a new stake in Allstate during the 4th quarter worth $44,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Price Performance

Shares of NYSE ALL opened at $207.11 on Tuesday. The firm has a market cap of $54.57 billion, a PE ratio of 9.74, a PEG ratio of 0.84 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 1-year low of $176.00 and a 1-year high of $213.18. The company has a fifty day moving average price of $198.28 and a 200 day moving average price of $198.62.

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, topping 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 firm had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same period in the prior year, the business earned $1.61 EPS. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. Research 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. Shareholders of record on Friday, August 29th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 1.9%. Allstate's payout ratio is 18.81%.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of analyst reports. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. Jefferies Financial Group upped their price objective on shares of Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, August 11th. BMO Capital Markets restated an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. Wells Fargo & Company set a $202.00 price objective on shares of Allstate and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Finally, Citigroup upgraded shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Allstate presently has a consensus rating of "Moderate Buy" and an average target price of $229.33.

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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