The Allstate Corporation $ALL Shares Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Allstate by 2.1%, adding 5,375 shares to hold 257,526 shares worth about $53.6 million, and institutional investors now own roughly 76.47% of the stock.
• Allstate posted a sizable quarterly beat with EPS $14.31 vs. $8.72 expected and $17.35 billion in revenue, alongside a 39.2% return on equity and a 15.19% net margin.
• The company raised its quarterly dividend to $1.08 (annualized $4.32, ~2.1% yield), while analysts' consensus rating is "Moderate Buy" with a target price of $237.94.

Aberdeen Group plc boosted its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 257,526 shares of the insurance provider's stock after purchasing an additional 5,375 shares during the quarter. Aberdeen Group plc owned approximately 0.10% of Allstate worth $53,604,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ALL. Brighton Jones LLC grew its position in shares of Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after acquiring an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in Allstate in the fourth quarter valued at approximately $231,000. Fisher Asset Management LLC raised its position in shares of Allstate by 5.5% during the 2nd quarter. Fisher Asset Management LLC now owns 2,998 shares of the insurance provider's stock worth $604,000 after purchasing an additional 155 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Allstate in the 2nd quarter worth approximately $39,000. Finally, 1832 Asset Management L.P. bought a new stake in shares of Allstate in the 2nd quarter worth approximately $2,283,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the sale, the insider owned 100,646 shares in the company, valued at $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by corporate insiders.

Allstate Price Performance

NYSE ALL opened at $207.10 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $216.75. The company has a 50 day moving average price of $206.32 and a two-hundred day moving average price of $205.08. The stock has a market capitalization of $53.75 billion, a PE ratio of 5.42, a price-to-earnings-growth ratio of 0.42 and a beta of 0.22.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating the consensus estimate of $8.72 by $5.59. The company had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business's revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $7.67 earnings per share. As a group, equities analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. This is a boost from Allstate's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Monday, March 2nd. Allstate's dividend payout ratio (DPR) is 11.31%.

Analysts Set New Price Targets

ALL has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $254.00 to $260.00 and gave the company an "outperform" rating in a research report on Tuesday, February 10th. Mizuho decreased their price target on Allstate from $281.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, March 20th. Weiss Ratings raised Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, March 23rd. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $220.00 price target on shares of Allstate in a research note on Thursday, February 5th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $260.00 price objective on shares of Allstate in a research note on Tuesday, March 3rd. Four investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $237.94.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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