Public Sector Pension Investment Board Acquires 2,190 Shares of The Allstate Corporation (NYSE:ALL)

Key Points

• The Public Sector Pension Investment Board increased its holdings in The Allstate Corporation by 3.2%, purchasing an additional 2,190 shares during the first quarter, bringing its total to 70,855 shares valued at approximately $14.67 million.
• Analysts have set a consensus price target of $229.20 for Allstate, with ratings including fifteen buy ratings and a "Moderate Buy" consensus.
• Allstate declared a quarterly dividend of $1.00 per share, representing an annualized dividend of $4.00 and a yield of 1.9%.

Public Sector Pension Investment Board lifted its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 3.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 70,855 shares of the insurance provider's stock after buying an additional 2,190 shares during the period. Public Sector Pension Investment Board's holdings in Allstate were worth $14,672,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ALL. Vanguard Group Inc. grew its holdings in Allstate by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock valued at $6,791,914,000 after purchasing an additional 164,662 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Allstate by 2.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock valued at $1,799,681,000 after purchasing an additional 218,771 shares in the last quarter. Bank of America Corp DE boosted its stake in Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after acquiring an additional 4,035,629 shares during the last quarter. Northern Trust Corp boosted its stake in Allstate by 15.8% during the 4th quarter. Northern Trust Corp now owns 3,496,017 shares of the insurance provider's stock valued at $673,997,000 after acquiring an additional 477,221 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Allstate by 7.2% during the 4th quarter. Deutsche Bank AG now owns 3,233,681 shares of the insurance provider's stock valued at $623,421,000 after acquiring an additional 217,468 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group raised their price target on shares of Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. UBS Group lifted their price objective 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. Evercore ISI lifted their price objective on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Barclays reiterated an "underweight" rating and issued a $198.00 price objective (up from $188.00) on shares of Allstate in a research report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Allstate presently has an average rating of "Moderate Buy" and an average target price of $229.33.

Allstate Stock Down 0.9%

Shares of NYSE ALL traded down $1.94 during trading hours on Friday, hitting $206.76. The company had a trading volume of 1,049,492 shares, compared to its average volume of 1,742,630. The stock has a market capitalization of $54.48 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.87 and a beta of 0.35. 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 Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $213.18. The firm's 50 day moving average is $198.18 and its 200-day moving average is $198.33.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. The firm had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.61 EPS. On average, analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio is presently 18.81%.

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.