The Allstate Corporation $ALL Shares Acquired by Shell Asset Management Co.

Key Points

• Shell Asset Management Co. increased its stake in The Allstate Corporation by 18.7% during the second quarter, now holding 30,430 shares valued at approximately $6.13 million.
• Allstate recently reported earnings of $5.94 per share for the last quarter, significantly exceeding analysts' expectations of $3.20, with revenues totaling $15.05 billion.
• The company declared a quarterly dividend of $1.00 per share, resulting in a dividend yield of 1.9%, with a payout ratio of 18.81%.

Shell Asset Management Co. boosted its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 18.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,430 shares of the insurance provider's stock after buying an additional 4,796 shares during the quarter. Shell Asset Management Co.'s holdings in Allstate were worth $6,126,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ALL. Price T Rowe Associates Inc. MD boosted its position 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 purchasing an additional 2,374,684 shares in the last quarter. Boston Partners lifted its position in shares of Allstate by 613.9% during the 1st quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock valued at $512,627,000 after buying an additional 2,134,893 shares in the last quarter. Goldman Sachs Group Inc. grew its stake 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 acquiring an additional 497,982 shares during the period. Strs Ohio purchased a new stake in Allstate in the 1st quarter worth $84,408,000. Finally, AQR Capital Management LLC raised its position in Allstate by 20.3% during the first quarter. AQR Capital Management LLC now owns 2,018,403 shares of the insurance provider's stock worth $417,244,000 after acquiring an additional 340,150 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Price Performance

Shares of ALL stock opened at $208.69 on Tuesday. 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 company has a market capitalization of $54.99 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 0.83 and a beta of 0.38. The firm's 50-day moving average is $205.06 and its two-hundred day moving average is $200.98. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $215.70.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter last year, the firm earned $1.61 EPS. The business's revenue was up 5.8% compared to the same quarter last year. Analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. Allstate's dividend payout ratio is currently 18.81%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. UBS Group boosted their target price on shares of Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Barclays reiterated an "underweight" rating and set a $198.00 price target (up from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Evercore ISI set a $233.00 target price on shares of Allstate and gave the stock an "in-line" rating in a report on Wednesday, October 1st. Finally, Roth Capital set a $230.00 price target on shares of Allstate and gave the stock a "buy" rating in a research report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $231.56.

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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