The Allstate Corporation $ALL Shares Acquired by McElhenny Sheffield Capital Management LLC

Key Points

• McElhenny Sheffield Capital Management LLC increased its position in The Allstate Corporation by 126.1% during the second quarter, acquiring a total of 4,286 shares valued at $863,000.
• Allstate's quarterly earnings report showed an EPS of $5.94, significantly surpassing expectations of $3.20, with a revenue of $15.05 billion compared to estimated $16.59 billion.
• The company declared a quarterly dividend of $1.00 per share with a yield of 1.9%, as part of its financial strategy to return value to shareholders.

McElhenny Sheffield Capital Management LLC lifted its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 126.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,286 shares of the insurance provider's stock after buying an additional 2,390 shares during the period. McElhenny Sheffield Capital Management LLC's holdings in Allstate were worth $863,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALL. Maryland State Retirement & Pension System boosted its position in Allstate by 4.4% during the 2nd quarter. Maryland State Retirement & Pension System now owns 12,826 shares of the insurance provider's stock worth $2,582,000 after purchasing an additional 546 shares during the period. Shell Asset Management Co. boosted its position in Allstate by 18.7% during the 2nd quarter. Shell Asset Management Co. now owns 30,430 shares of the insurance provider's stock worth $6,126,000 after purchasing an additional 4,796 shares during the period. Joel Isaacson & Co. LLC boosted its position in Allstate by 10.3% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 1,245 shares of the insurance provider's stock worth $251,000 after purchasing an additional 116 shares during the period. KLP Kapitalforvaltning AS boosted its position in Allstate by 8.6% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 94,968 shares of the insurance provider's stock worth $19,199,000 after purchasing an additional 7,500 shares during the period. Finally, RMG Wealth Management LLC purchased a new stake in Allstate during the 2nd quarter worth $246,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Performance

NYSE:ALL opened at $212.46 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $215.70. The firm has a 50-day moving average of $205.82 and a two-hundred day moving average of $201.13. The stock has a market cap of $55.99 billion, a P/E ratio of 9.99, a PEG ratio of 0.82 and a beta of 0.38.

Allstate (NYSE:ALL - Get Free Report) last issued 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 business had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. During the same quarter last year, the company posted $1.61 earnings per share. The company's quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate's dividend payout ratio (DPR) is presently 18.81%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALL. Raymond James Financial reaffirmed a "strong-buy" rating and set a $260.00 price target (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Allstate in a research report on Wednesday. Evercore ISI set a $233.00 price target on shares of Allstate and gave the stock an "in-line" rating in a research report on Wednesday, October 1st. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $232.50.

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.

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