The Allstate Corporation $ALL is Birmingham Capital Management Co. Inc. AL's 4th Largest Position

Key Points

• Birmingham Capital Management Co. Inc. AL reduced its stake in The Allstate Corporation by 2.5%, now holding 51,044 shares, which represents about 4.0% of its total portfolio valued at $10,570,000.
• Several institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., have increased their holdings in Allstate, indicating strong interest from hedge funds.
• Allstate reported a Q2 EPS of $5.94, surpassing estimates, and announced a quarterly dividend of $1.00 per share, reflecting a 2.0% yield.

Birmingham Capital Management Co. Inc. AL cut its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 2.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,044 shares of the insurance provider's stock after selling 1,330 shares during the period. Allstate comprises about 4.0% of Birmingham Capital Management Co. Inc. AL's holdings, making the stock its 4th largest holding. Birmingham Capital Management Co. Inc. AL's holdings in Allstate were worth $10,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Allstate by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock worth $6,791,914,000 after buying an additional 164,662 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Allstate by 25.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock worth $2,424,710,000 after buying an additional 2,374,684 shares during the last quarter. GQG Partners LLC lifted its holdings in Allstate by 2.1% during the 1st quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider's stock worth $912,288,000 after buying an additional 89,185 shares during the last quarter. Boston Partners lifted its holdings in Allstate by 613.9% during the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock worth $512,627,000 after buying an additional 2,134,893 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Allstate by 24.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,358,883 shares of the insurance provider's stock worth $454,769,000 after buying an additional 462,613 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALL has been the topic of a number of research analyst reports. Citigroup upgraded Allstate to a "hold" rating in a research report on Wednesday, August 13th. Wells Fargo & Company set a $202.00 target price on Allstate and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. William Blair initiated coverage on Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating on the stock. Morgan Stanley lifted their target price on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods lifted their target price on Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $231.21.

Allstate Price Performance

Shares of ALL opened at $199.91 on Thursday. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $214.76. The stock's 50 day moving average is $200.80 and its two-hundred day moving average is $200.21. The firm has a market capitalization of $52.68 billion, a PE ratio of 9.40, a P/E/G ratio of 0.80 and a beta of 0.37. 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 quarterly 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 business had revenue of $15.05 billion for 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 quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.61 EPS. Research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be issued 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 is Friday, August 29th. Allstate's dividend payout ratio is presently 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.

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