Federation des caisses Desjardins du Quebec Buys 5,022 Shares of The Allstate Corporation $ALL

Key Points

• Federation des caisses Desjardins du Quebec has increased its holdings in The Allstate Corporation by 53.4%, owning a total of 14,429 shares worth approximately $2.99 million after purchasing an additional 5,022 shares.
• The Allstate Corporation reported $5.94 EPS for the last quarter, significantly exceeding the consensus estimate of $3.20, though its revenue was below estimates at $15.05 billion.
• A quarterly dividend of $1.00 per share has been announced, with a yield of 2.0%, reflecting a payout ratio of 18.81% for shareholders of record as of August 29.

Federation des caisses Desjardins du Quebec lifted its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 53.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,429 shares of the insurance provider's stock after buying an additional 5,022 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Allstate were worth $2,988,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Hughes Financial Services LLC acquired a new position in shares of Allstate in the 1st quarter valued at approximately $28,000. Meeder Asset Management Inc. boosted its position in Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after acquiring an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in Allstate during the 1st quarter worth approximately $43,000. Mattson Financial Services LLC bought a new stake in shares of Allstate during the 4th quarter worth approximately $44,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Allstate during the 1st quarter worth approximately $54,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on ALL. BMO Capital Markets increased their price objective on Allstate from $230.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. William Blair started coverage on Allstate in a research note on Friday, June 6th. They issued a "sector outperform" rating on the stock. Citigroup raised Allstate to a "hold" rating in a research note on Wednesday, August 13th. Jefferies Financial Group increased their target price on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Finally, Barclays reiterated an "underweight" rating and issued a $198.00 target price (up from $188.00) on shares of Allstate in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Allstate has an average rating of "Moderate Buy" and a consensus price target of $231.21.

Allstate Stock Performance

ALL stock traded up $1.13 during midday trading on Thursday, hitting $201.16. The company's stock had a trading volume of 251,300 shares, compared to its average volume of 1,688,024. The stock's 50-day moving average price is $200.80 and its 200 day moving average price is $200.21. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $214.76. The stock has a market cap of $53.01 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.80 and a beta of 0.37.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 EPS. On average, equities analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio (DPR) is presently 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.