Russell Investments Group Ltd. Sells 162,945 Shares of The Allstate Corporation (NYSE:ALL)

Key Points

• Russell Investments Group Ltd. has decreased its stake in The Allstate Corporation by 16.9%, holding 799,038 shares valued at approximately $165 million after selling 162,945 shares in the first quarter.
• Analysts have mixed views on Allstate, with Barclays setting a revised price target of $198, while Morgan Stanley raised its target to $245 and gave the stock an "overweight" rating.
• Allstate has announced a quarterly dividend of $1.00 per share, reflecting a 1.9% dividend yield, with the payout ratio currently at 18.81%.

Russell Investments Group Ltd. lessened its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 16.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 799,038 shares of the insurance provider's stock after selling 162,945 shares during the quarter. Russell Investments Group Ltd. owned about 0.30% of Allstate worth $165,440,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Prudential PLC lifted its holdings in shares of Allstate by 92.8% in the first quarter. Prudential PLC now owns 8,262 shares of the insurance provider's stock valued at $1,711,000 after buying an additional 3,977 shares during the period. Resona Asset Management Co. Ltd. lifted its holdings in shares of Allstate by 7.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 100,004 shares of the insurance provider's stock valued at $20,699,000 after buying an additional 6,719 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Allstate by 3.2% in the first quarter. Public Sector Pension Investment Board now owns 70,855 shares of the insurance provider's stock valued at $14,672,000 after buying an additional 2,190 shares during the period. AIA Group Ltd acquired a new stake in shares of Allstate in the first quarter valued at $349,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings in shares of Allstate by 5.0% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,664 shares of the insurance provider's stock valued at $345,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 76.47% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ALL shares. BMO Capital Markets restated an "outperform" rating on shares of Allstate in a report on Friday, May 16th. Evercore ISI boosted their target price on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Wall Street Zen raised Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Citigroup raised Allstate to a "hold" rating in a research report on Wednesday. Finally, Barclays reaffirmed an "underweight" rating and set a $198.00 target price (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 issued a strong buy rating to the stock. According to data from MarketBeat, Allstate presently has a consensus rating of "Moderate Buy" and an average target price of $229.33.

Allstate Stock Down 0.9%

NYSE ALL traded down $1.94 on Friday, reaching $206.76. The stock had a trading volume of 1,049,492 shares, compared to its average volume of 1,742,616. The business has a 50 day moving average price of $198.18 and a 200 day moving average price of $198.33. 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 1 year low of $176.00 and a 1 year high of $213.18. The company has a market capitalization of $54.48 billion, a price-to-earnings ratio of 9.72, a P/E/G ratio of 0.87 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 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 the consensus estimate of $16.59 billion. During the same quarter in the previous year, the company posted $1.61 earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio is 18.81%.

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.