The Manufacturers Life Insurance Company Acquires 9,711 Shares of The Allstate Corporation $ALL

Key Points

• The Manufacturers Life Insurance Company increased its stake in The Allstate Corporation by 2.1%, owning 464,366 shares valued at approximately $96 million as of its latest SEC filing.
• Allstate reported strong quarterly earnings, with $5.94 earnings per share, surpassing analysts' expectations, although revenue fell short of estimates at $15.05 billion.
• The company announced a quarterly dividend of $1.00 per share, representing a 2.0% yield, with a low payout ratio of 18.81% and set to be paid on October 1st.

The Manufacturers Life Insurance Company increased its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 2.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 464,366 shares of the insurance provider's stock after buying an additional 9,711 shares during the period. The Manufacturers Life Insurance Company owned 0.18% of Allstate worth $96,156,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in ALL. Magnetar Financial LLC boosted its stake in Allstate by 802.1% in the 1st quarter. Magnetar Financial LLC now owns 51,809 shares of the insurance provider's stock valued at $10,728,000 after purchasing an additional 46,066 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Allstate by 25.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 508,138 shares of the insurance provider's stock valued at $105,220,000 after acquiring an additional 101,946 shares during the period. WPG Advisers LLC bought a new stake in shares of Allstate during the 1st quarter valued at $74,000. Trexquant Investment LP lifted its position in shares of Allstate by 83.9% during the 1st quarter. Trexquant Investment LP now owns 89,977 shares of the insurance provider's stock valued at $18,632,000 after acquiring an additional 41,053 shares during the period. Finally, Landscape Capital Management L.L.C. lifted its position in Allstate by 169.4% during the first quarter. Landscape Capital Management L.L.C. now owns 19,907 shares of the insurance provider's stock worth $4,122,000 after purchasing an additional 12,517 shares during the period. Institutional investors own 76.47% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ALL. Morgan Stanley upped their price objective on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. UBS Group lifted their target price on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Wells Fargo & Company set a $202.00 price objective on Allstate and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Cantor Fitzgerald upgraded shares of Allstate to a "hold" rating in a research note on Wednesday, August 13th. Finally, BMO Capital Markets raised 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. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Allstate currently has an average rating of "Moderate Buy" and a consensus target price of $231.21.

Allstate Trading Up 0.5%

NYSE ALL traded up $1.03 during trading on Wednesday, hitting $204.37. 1,054,835 shares of the company's stock traded hands, compared to its average volume of 1,703,236. The firm has a market cap of $53.85 billion, a P/E ratio of 9.61, a PEG ratio of 0.82 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. The stock has a fifty day moving average of $200.06 and a two-hundred day moving average of $199.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 earnings per share. As a group, sell-side analysts expect that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 2.0%. Allstate's dividend payout ratio (DPR) 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.