Raymond James Financial Inc. Sells 70,911 Shares of The Allstate Corporation $ALL

Key Points

• Raymond James Financial Inc. has decreased its stake in The Allstate Corporation by 2.6%, now owning approximately 1.02% of Allstate with a total value of $560.13 million.
• Allstate announced a quarterly dividend of $1.00 per share, representing an annualized yield of 1.9% and a payout ratio of 18.81%.
• The company's recent earnings report showed a significant increase in earnings per share to $5.94, surpassing analysts' expectations and indicating a year-over-year revenue growth of 5.8%.

Raymond James Financial Inc. decreased its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,705,025 shares of the insurance provider's stock after selling 70,911 shares during the period. Raymond James Financial Inc. owned 1.02% of Allstate worth $560,130,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Allstate by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock worth $6,791,914,000 after acquiring an additional 164,662 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Allstate by 2.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock worth $1,799,681,000 after acquiring an additional 218,771 shares in the last quarter. Bank of America Corp DE raised its position in shares of Allstate by 157.9% in the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock worth $1,270,705,000 after acquiring an additional 4,035,629 shares in the last quarter. GQG Partners LLC raised its position in shares of Allstate by 2.1% in the 1st quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider's stock worth $912,288,000 after acquiring an additional 89,185 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Allstate by 15.8% in the 4th quarter. Northern Trust Corp now owns 3,496,017 shares of the insurance provider's stock worth $673,997,000 after acquiring an additional 477,221 shares in the last quarter. Institutional investors own 76.47% of the company's stock.

Allstate Stock Up 1.5%

ALL traded up $3.1880 during trading on Tuesday, hitting $210.2780. 1,323,968 shares of the company's stock traded hands, compared to its average volume of 1,533,060. The company's 50 day simple moving average is $198.28 and its two-hundred day simple moving average is $198.62. 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 12-month low of $176.00 and a 12-month high of $213.18. The stock has a market capitalization of $55.41 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 0.84 and a beta of 0.35.

Allstate (NYSE:ALL - Get Free Report) last issued its 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 return on equity of 28.74% and a net margin of 8.79%.The business had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same period last year, the business posted $1.61 EPS. The company's revenue was up 5.8% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio (DPR) is currently 18.81%.

Analyst Ratings Changes

Several research analysts have recently issued reports on ALL shares. William Blair started coverage on Allstate in a research report on Friday, June 6th. They issued a "sector outperform" rating for the company. Evercore ISI upped their price target on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Cantor Fitzgerald raised Allstate to a "hold" rating in a research report on Wednesday, August 13th. Wells Fargo & Company set a $202.00 price objective on Allstate and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Finally, Keefe, Bruyette & Woods increased their target price on Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $229.33.

Allstate 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.