The Allstate Corporation $ALL Shares Acquired by Fiduciary Alliance LLC

Key Points

• Fiduciary Alliance LLC increased its holdings in The Allstate Corporation by 135.7% in the second quarter, now owning 32,543 shares valued at approximately $6.55 million.
• Various institutional investors have significantly increased their stakes in Allstate, with 76.47% of the stock currently owned by hedge funds and other institutional investors.
• Allstate announced a $1.00 quarterly dividend, yielding 2.0% annually, which is set to be paid on October 1, 2023.

Fiduciary Alliance LLC lifted its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 135.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,543 shares of the insurance provider's stock after purchasing an additional 18,734 shares during the quarter. Fiduciary Alliance LLC's holdings in Allstate were worth $6,551,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its stake in Allstate by 25.4% during the first 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 period. Boston Partners lifted its holdings in shares of Allstate by 613.9% in the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock worth $512,627,000 after acquiring an additional 2,134,893 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Allstate by 25,026.1% during the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock worth $263,785,000 after purchasing an additional 1,268,825 shares during the period. Mackenzie Financial Corp increased its holdings in Allstate by 261.6% in the 4th quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock valued at $160,575,000 after purchasing an additional 602,533 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Allstate by 27.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock valued at $482,073,000 after purchasing an additional 497,982 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALL has been the subject of several research analyst reports. Wolfe Research initiated coverage on Allstate in a research report on Monday. They set an "outperform" rating for the company. Morgan Stanley increased their target price on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Jefferies Financial Group raised their target price on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 11th. BMO Capital Markets boosted their price target on shares of Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $260.00 price target (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. One 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 issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $231.21.

Allstate Trading Down 1.7%

Shares of Allstate stock opened at $196.92 on Tuesday. 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 company has a fifty day simple moving average of $201.04 and a 200-day simple moving average of $200.48. The stock has a market cap of $51.89 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 0.80 and a beta of 0.37. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. The firm had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. Allstate's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.61 earnings per share. On average, equities analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 dividend yield of 2.0%. Allstate's dividend payout ratio is 18.81%.

Allstate 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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