Atalanta Sosnoff Capital LLC Has $103.62 Million Stock Holdings in The Allstate Corporation $ALL

Key Points

• Atalanta Sosnoff Capital LLC increased its stake in The Allstate Corporation by 5.8% in the first quarter, making Allstate the firm’s 10th largest position with holdings valued at approximately $103.6 million.
• Several hedge funds also increased their positions in Allstate, with Brighton Jones LLC and AXA S.A. recording significant boosts of 60.2% and 85.4% respectively, indicating strong institutional interest post the company's earnings report.
• Allstate announced a quarterly dividend of $1.00 per share, which translates to a 2.0% annual yield based on its current stock price, reflecting a payout ratio of 18.81%.

Atalanta Sosnoff Capital LLC grew its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 500,425 shares of the insurance provider's stock after purchasing an additional 27,266 shares during the period. Allstate makes up 2.5% of Atalanta Sosnoff Capital LLC's investment portfolio, making the stock its 10th biggest holding. Atalanta Sosnoff Capital LLC owned about 0.19% of Allstate worth $103,623,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ALL. Hughes Financial Services LLC acquired a new position in Allstate during the 1st quarter worth approximately $28,000. Meeder Asset Management Inc. raised its stake in Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after buying an additional 99 shares during the period. McClarren Financial Advisors Inc. acquired a new position in Allstate during the 1st quarter worth approximately $43,000. Mattson Financial Services LLC acquired a new position in Allstate during the 4th quarter worth approximately $44,000. Finally, 1 North Wealth Services LLC acquired a new position in Allstate during the 1st quarter worth approximately $51,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Down 3.3%

ALL traded down $6.94 during midday trading on Friday, reaching $201.39. 1,404,997 shares of the company were exchanged, compared to its average volume of 1,111,447. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The company's fifty day moving average price is $200.72 and its 200 day moving average price is $200.03. The company has a market cap of $53.07 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 0.81 and a beta of 0.37. The Allstate Corporation has a one year low of $176.00 and a one year high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company'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 posted $1.61 EPS. As a group, analysts expect that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio (DPR) is presently 18.81%.

Analyst Upgrades and Downgrades

ALL has been the topic of a number of research reports. Jefferies Financial Group upped their price target on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Raymond James Financial restated a "strong-buy" rating and set a $260.00 price objective (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. Barclays restated an "underweight" rating and set a $198.00 price objective (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. William Blair initiated coverage on shares of Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. Finally, BMO Capital Markets boosted their price objective on Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $231.21.

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.