The Allstate Corporation $ALL Shares Bought by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. increased its stake in The Allstate Corporation by 43.4%, now owning 45,007 shares worth approximately $9.32 million.
• Allstate reported a quarterly earnings per share of $5.94, significantly surpassing analysts' expectations of $3.20, while revenue was $15.05 billion, slightly short of the forecasted $16.59 billion.
• The company declared a quarterly dividend of $1.00 per share, resulting in an annualized dividend of $4.00 and a yield of 2.0%.

Graham Capital Management L.P. grew its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 43.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,007 shares of the insurance provider's stock after purchasing an additional 13,613 shares during the quarter. Graham Capital Management L.P.'s holdings in Allstate were worth $9,320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Allstate by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock worth $6,791,914,000 after buying an additional 164,662 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Allstate by 25.4% in 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 acquiring an additional 2,374,684 shares during the last quarter. Bank of America Corp DE raised its position in shares of Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after acquiring an additional 4,035,629 shares during the last quarter. GQG Partners LLC increased its position in shares of Allstate by 2.1% in the 1st quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider's stock valued at $912,288,000 after buying an additional 89,185 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Allstate by 7.2% in the 4th quarter. Deutsche Bank AG now owns 3,233,681 shares of the insurance provider's stock worth $623,421,000 after purchasing an additional 217,468 shares during the period. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALL. Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. William Blair began coverage on shares of Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. Wells Fargo & Company set a $202.00 price objective on shares of Allstate and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Finally, Barclays reiterated an "underweight" rating and issued a $198.00 target price (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $231.21.

Allstate Trading Up 0.5%

Shares of NYSE ALL traded up $1.03 during mid-day trading on Wednesday, reaching $204.37. The company had a trading volume of 1,057,761 shares, compared to its average volume of 1,163,908. The business's 50-day moving average is $200.06 and its 200-day moving average is $199.71. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The stock has a market cap of $53.85 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 0.82 and a beta of 0.37. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 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 company had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. During the same period last year, the business earned $1.61 EPS. Allstate's revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given 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 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.