Philadelphia Financial Management of San Francisco LLC Sells 78,904 Shares of The Allstate Corporation $ALL

Key Points

• Philadelphia Financial Management of San Francisco LLC significantly reduced its stake in The Allstate Corporation by 60.7%, selling 78,904 shares during the first quarter, leaving them with 51,015 shares valued at approximately $10.56 million.
• Allstate's shares are trading down 3.3% and have a market capitalization of $53.07 billion, with a reported earnings per share (EPS) of $5.94, surpassing expectations by $2.74.
• The company has declared a quarterly dividend of $1.00 per share, expected to be paid on October 1st, which reflects an annualized yield of 2.0%.

Philadelphia Financial Management of San Francisco LLC decreased its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 60.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 51,015 shares of the insurance provider's stock after selling 78,904 shares during the period. Allstate accounts for approximately 2.1% of Philadelphia Financial Management of San Francisco LLC's portfolio, making the stock its 22nd largest holding. Philadelphia Financial Management of San Francisco LLC's holdings in Allstate were worth $10,564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Allstate by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock worth $6,791,914,000 after purchasing an additional 164,662 shares in the last quarter. Price T Rowe Associates Inc. MD increased 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 worth $2,424,710,000 after buying an additional 2,374,684 shares during the last quarter. GQG Partners LLC lifted its position in shares of Allstate by 2.1% during the first quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider's stock worth $912,288,000 after purchasing an additional 89,185 shares during the last quarter. Boston Partners lifted its holdings in Allstate by 613.9% during the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock worth $512,627,000 after buying an additional 2,134,893 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Allstate by 24.4% in 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 worth $454,769,000 after acquiring an additional 462,613 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Performance

Allstate stock traded down $0.18 during trading hours on Tuesday, reaching $200.13. 1,339,981 shares of the company were exchanged, compared to its average volume of 1,156,868. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $214.76. 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 firm has a market cap of $52.74 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 0.80 and a beta of 0.37. The stock has a 50-day moving average of $200.70 and a 200 day moving average of $200.21.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same quarter last year, the firm posted $1.61 EPS. The company's revenue was up 5.8% on a year-over-year basis. As a group, research analysts anticipate 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 paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio (DPR) is presently 18.81%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ALL. Raymond James Financial reissued a "strong-buy" rating and set a $260.00 price target (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. UBS Group increased their target price on shares of Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Barclays restated an "underweight" rating and issued a $198.00 price target (up from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Citigroup raised shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. Finally, Jefferies Financial Group raised their target price on shares of Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $231.21.

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.