SVB Wealth LLC Boosts Stock Holdings in The Allstate Corporation $ALL

Key Points

• SVB Wealth LLC significantly increased its holdings in The Allstate Corporation by 92.1%, owning 14,306 shares valued at nearly $2.96 million as of its latest SEC filing.
• Allstate reported an impressive EPS of $5.94 for the last quarter, surpassing the consensus estimate of $3.20, while total revenue was $15.05 billion, below expected figures.
• The company announced a quarterly dividend of $1.00 per share, indicating a 1.9% dividend yield and a payout ratio of 18.81%.

SVB Wealth LLC raised its position in The Allstate Corporation (NYSE:ALL - Free Report) by 92.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,306 shares of the insurance provider's stock after purchasing an additional 6,857 shares during the quarter. SVB Wealth LLC's holdings in Allstate were worth $2,962,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. Hughes Financial Services LLC purchased a new stake in shares of Allstate during the first quarter worth $28,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Allstate during the fourth quarter worth $29,000. Meeder Asset Management Inc. increased its position in shares of Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after acquiring an additional 99 shares during the period. McClarren Financial Advisors Inc. purchased a new stake in shares of Allstate during the first quarter worth $43,000. Finally, Mattson Financial Services LLC purchased a new stake in shares of Allstate during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ALL shares. Jefferies Financial Group upped their price objective on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. UBS Group upped their price objective on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. BMO Capital Markets increased their target price on Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Evercore ISI increased their target price on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $260.00 target price (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. One equities research 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 given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $230.73.

Allstate Stock Performance

Shares of ALL traded up $0.67 during mid-day trading on Wednesday, hitting $203.85. 859,296 shares of the company's stock were exchanged, compared to its average volume of 1,722,514. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $214.76. The firm has a market capitalization of $53.72 billion, a P/E ratio of 9.58, a P/E/G ratio of 0.82 and a beta of 0.35. The business's 50 day moving average is $199.31 and its two-hundred day moving average is $199.21. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping 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 business had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the prior year, the firm earned $1.61 earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The company 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 dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio is currently 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.