The Allstate Corporation $ALL Shares Purchased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD significantly increased its holdings in The Allstate Corporation by 25.4% to approximately $2.42 billion in the 1st quarter of the year.
• Among various analysts, Keefe, Bruyette & Woods upgraded their target price for Allstate from $237.00 to $246.00, maintaining an "outperform" rating.
• The company recently declared a quarterly dividend of $1.00, representing an annualized dividend yield of 1.9%.

Price T Rowe Associates Inc. MD increased its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 25.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,709,610 shares of the insurance provider's stock after buying an additional 2,374,684 shares during the period. Price T Rowe Associates Inc. MD owned about 4.42% of Allstate worth $2,424,710,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Rehmann Capital Advisory Group increased its stake in shares of Allstate by 3.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock worth $338,000 after acquiring an additional 51 shares during the last quarter. Vantage Point Financial LLC increased its position in shares of Allstate by 3.6% during the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock valued at $310,000 after acquiring an additional 52 shares during the last quarter. Confluence Wealth Services Inc. boosted its holdings in Allstate by 0.7% during the 1st quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock valued at $1,558,000 after acquiring an additional 54 shares during the period. Linscomb Wealth Inc. boosted its holdings in Allstate by 1.3% during the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider's stock valued at $845,000 after acquiring an additional 54 shares during the period. Finally, Achmea Investment Management B.V. boosted its stake in shares of Allstate by 0.3% in the 1st quarter. Achmea Investment Management B.V. now owns 20,586 shares of the insurance provider's stock valued at $4,262,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Trading Down 1.7%

Shares of NYSE ALL traded down $3.41 during midday trading on Monday, hitting $202.11. The stock had a trading volume of 1,051,162 shares, compared to its average volume of 1,727,069. The company has a market capitalization of $53.26 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 0.83 and a beta of 0.35. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $214.76. 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 fifty day moving average price of $199.16 and a 200 day moving average price of $199.10.

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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $16.59 billion. During the same quarter last year, the firm posted $1.61 earnings per share. Allstate's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current 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 is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 2.0%. Allstate's dividend payout ratio (DPR) is presently 18.81%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. UBS Group upped their price target on shares of Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Cantor Fitzgerald upgraded Allstate to a "hold" rating in a research note on Wednesday, August 13th. Raymond James Financial restated a "strong-buy" rating and set a $260.00 price target (up previously from $250.00) on shares of Allstate in a research note on Monday, August 4th. Finally, Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Allstate has an average rating of "Moderate Buy" and an average price target of $230.73.

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.