IFM Investors Pty Ltd Raises Holdings in The Allstate Corporation $ALL

Key Points

• IFM Investors Pty Ltd increased its stake in The Allstate Corporation by 4.6% during the second quarter, owning 50,743 shares valued at $10,215,000.
• Analysts have a generally positive outlook on Allstate, with recent ratings showing two "Strong Buy", twelve "Buy", and an average price target of $231.47.
• Allstate declared a quarterly dividend of $1.00 per share, representing a 1.9% yield, to be paid on October 1st to shareholders of record on August 29th.

IFM Investors Pty Ltd increased its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 4.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 50,743 shares of the insurance provider's stock after purchasing an additional 2,209 shares during the period. IFM Investors Pty Ltd's holdings in Allstate were worth $10,215,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ALL. Sequoia Financial Advisors LLC increased its stake in Allstate by 30.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider's stock worth $2,352,000 after acquiring an additional 2,643 shares during the last quarter. Atlas Capital Advisors Inc. increased its position in shares of Allstate by 197.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider's stock valued at $1,390,000 after purchasing an additional 4,454 shares during the last quarter. Richard Bernstein Advisors LLC bought a new position in shares of Allstate during the 1st quarter valued at about $3,341,000. Dock Street Asset Management Inc. bought a new position in shares of Allstate during the 1st quarter valued at about $207,000. Finally, First Citizens Bank & Trust Co. increased its position in shares of Allstate by 5.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock valued at $11,906,000 after purchasing an additional 2,981 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Stock Up 0.8%

Shares of ALL traded up $1.55 during midday trading on Tuesday, hitting $208.01. 243,030 shares of the company's stock traded hands, compared to its average volume of 1,692,105. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $214.76. The firm's fifty day moving average is $201.84 and its 200-day moving average is $200.56. 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 stock has a market capitalization of $54.81 billion, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 0.82 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping 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 company had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same quarter last year, the business posted $1.61 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Allstate's payout ratio is presently 18.81%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wolfe Research upgraded Allstate to a "strong-buy" rating in a report on Tuesday, September 16th. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. Barclays restated an "underweight" rating and set a $198.00 target price (up from $188.00) on shares of Allstate in a report on Thursday, July 31st. William Blair started coverage on Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating for the company. Finally, Morgan Stanley increased their price objective on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $231.47.

About Allstate

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.