Banco Bilbao Vizcaya Argentaria S.A. Raises Stake in The Allstate Corporation $ALL

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its position in The Allstate Corporation by 2.8% in the first quarter, accumulating a total of 45,031 shares valued at approximately $9.3 million.
• Allstate has recently seen a variety of analyst ratings with 14 analysts rating it as "Buy" or better, including a $260 price target from Raymond James Financial.
• The company declared a quarterly dividend of $1.00 per share which will be paid on October 1st, reflecting an annualized yield of 1.9% and a payout ratio of 18.81%.

Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 2.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,031 shares of the insurance provider's stock after buying an additional 1,228 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Allstate were worth $9,325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. bLong Financial LLC purchased a new position in Allstate during the first quarter worth $207,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in Allstate during the first quarter worth $307,000. RWA Wealth Partners LLC purchased a new position in Allstate during the first quarter worth $210,000. Korea Investment CORP boosted its stake in Allstate by 11.5% during the first quarter. Korea Investment CORP now owns 251,538 shares of the insurance provider's stock worth $52,086,000 after buying an additional 25,920 shares during the period. Finally, Brooklyn Investment Group boosted its stake in shares of Allstate by 12.7% during the first quarter. Brooklyn Investment Group now owns 1,621 shares of the insurance provider's stock valued at $335,000 after purchasing an additional 183 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALL. Evercore ISI boosted their target price on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. BMO Capital Markets boosted their target price on shares of Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Jefferies Financial Group boosted their target price on shares of Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, August 11th. William Blair began coverage on shares of Allstate in a research note on Friday, June 6th. They set a "sector outperform" rating for the company. Finally, Cantor Fitzgerald raised shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $230.73.

Allstate Stock Down 1.4%

Shares of ALL stock traded down $2.78 on Monday, hitting $202.74. The stock had a trading volume of 385,262 shares, compared to its average volume of 1,724,764. The company has a market cap of $53.42 billion, a PE ratio of 9.52, a P/E/G ratio of 0.83 and a beta of 0.35. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $199.16 and a 200 day moving average price of $199.10. 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 posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating 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 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 prior year, the company posted $1.61 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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