Raiffeisen Bank International AG Reduces Stock Position in The Allstate Corporation (NYSE:ALL)

Key Points

• Raiffeisen Bank International AG has reduced its holdings in The Allstate Corporation by 7.0% during the first quarter, now owning 58,629 shares valued at approximately $12.1 million.
• Allstate reported strong earnings with an EPS of $5.94, far exceeding expectations, despite revenues falling short of forecasts at $15.05 billion.
• The company announced a quarterly dividend of $1.00 per share, with an annualized dividend yield of 2.0%, and a payout ratio of 27.32%.

Raiffeisen Bank International AG lessened its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 7.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,629 shares of the insurance provider's stock after selling 4,391 shares during the quarter. Raiffeisen Bank International AG's holdings in Allstate were worth $12,104,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. L & S Advisors Inc increased its holdings in Allstate by 110.8% in the first quarter. L & S Advisors Inc now owns 32,548 shares of the insurance provider's stock valued at $6,740,000 after buying an additional 17,111 shares during the last quarter. Cheviot Value Management LLC purchased a new position in shares of Allstate during the first quarter worth about $93,000. J. Safra Sarasin Holding AG grew its holdings in shares of Allstate by 616.7% during the first quarter. J. Safra Sarasin Holding AG now owns 100,399 shares of the insurance provider's stock worth $20,790,000 after purchasing an additional 86,390 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. grew its holdings in shares of Allstate by 3.8% during the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,892 shares of the insurance provider's stock worth $808,000 after purchasing an additional 141 shares during the last quarter. Finally, Nicolet Advisory Services LLC grew its holdings in shares of Allstate by 3.8% during the first quarter. Nicolet Advisory Services LLC now owns 3,951 shares of the insurance provider's stock worth $754,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Trading Down 1.7%

Shares of ALL opened at $199.71 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.40. The firm has a 50 day simple moving average of $198.37 and a 200-day simple moving average of $197.27. The Allstate Corporation has a 1-year low of $168.36 and a 1-year high of $213.18. The stock has a market cap of $52.63 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 1.04 and a beta of 0.35.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping the consensus estimate of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. Allstate's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.61 EPS. Equities analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.0%. Allstate's payout ratio is currently 27.32%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ALL shares. Morgan Stanley raised their price objective on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday. Raymond James Financial reaffirmed a "strong-buy" rating and set a $250.00 price objective (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. Wall Street Zen downgraded shares of Allstate from a "buy" rating to a "hold" rating in a research note on Monday, July 28th. 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 research note on Wednesday, July 9th. Finally, Barclays reiterated an "underweight" rating and set a $198.00 target price (up previously from $188.00) on shares of Allstate in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Allstate has an average rating of "Moderate Buy" and an average target price of $228.40.

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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