Flputnam Investment Management Co. Has $6.35 Million Holdings in The Allstate Corporation $ALL

Key Points

• Flputnam Investment Management Co. increased its stake in The Allstate Corporation by 637.6% to 30,670 shares, valued at $6,351,000, during the first quarter.
• Analysts have generally positive views on Allstate's stock, with an average rating of "Moderate Buy" and a price target of $230.73.
• Allstate has announced a quarterly dividend of $1.00 per share, reflecting a dividend yield of 2.0%, with the next payout scheduled for October 1st.

Flputnam Investment Management Co. raised its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 637.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,670 shares of the insurance provider's stock after purchasing an additional 26,512 shares during the period. Flputnam Investment Management Co.'s holdings in Allstate were worth $6,351,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Bank of America Corp DE boosted its stake in Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after purchasing an additional 4,035,629 shares during the period. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $2,424,710,000 after purchasing an additional 2,374,684 shares during the period. Boston Partners lifted its stake 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 period. GAMMA Investing LLC lifted its stake in shares of Allstate by 25,026.1% in the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock worth $263,785,000 after acquiring an additional 1,268,825 shares during the period. Finally, Castle Hook Partners LP lifted its stake in shares of Allstate by 1,303.3% in the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock worth $159,021,000 after acquiring an additional 766,058 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of 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 upped their price target on shares of Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Citigroup raised shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. Finally, BMO Capital Markets increased 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. One investment 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 company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $231.21.

Allstate Stock Down 3.3%

Shares of ALL traded down $6.94 during mid-day trading on Friday, hitting $201.39. 1,386,682 shares of the company's stock were exchanged, compared to its average volume of 1,701,411. The firm has a fifty day moving average of $200.60 and a two-hundred day moving average of $199.89. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $214.76. The stock has a market cap of $53.07 billion, a price-to-earnings ratio of 9.47, a P/E/G ratio of 0.83 and a beta of 0.37. The company has a quick ratio of 0.43, a current 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. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same quarter in the prior year, the business posted $1.61 EPS. Allstate's quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date 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 currently 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.