The Allstate Corporation $ALL Position Boosted by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its stake in The Allstate Corporation by 1.2%, owning a total of 715,997 shares valued at $148.26 million as of its latest SEC filing.
• In its recent quarterly earnings report, Allstate achieved an EPS of $5.94, significantly exceeding analysts' expectations of $3.20, with revenue of $15.05 billion.
• The company declared a quarterly dividend of $1.00, yielding 2.0%, with the payment date set for October 1st.

Royal Bank of Canada grew its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 715,997 shares of the insurance provider's stock after acquiring an additional 8,198 shares during the period. Royal Bank of Canada owned about 0.27% of Allstate worth $148,260,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Hughes Financial Services LLC acquired a new position in Allstate in the first quarter worth about $28,000. Meeder Asset Management Inc. grew its position in shares of Allstate by 113.8% in 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 in the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Allstate in the 1st quarter valued at approximately $43,000. Mattson Financial Services LLC acquired a new position in shares of Allstate in the 4th quarter valued at about $44,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Allstate in the 1st quarter valued at about $54,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of recent research reports. Cantor Fitzgerald raised shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. Raymond James Financial reiterated a "strong-buy" rating and set a $260.00 price target (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Morgan Stanley boosted their price objective on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. Finally, UBS Group raised their target price on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $231.21.

Allstate Price Performance

ALL traded down $6.94 on Friday, reaching $201.39. The company had a trading volume of 1,404,997 shares, compared to its average volume of 1,111,447. The company has a market capitalization of $53.07 billion, a P/E ratio of 9.47, a PEG ratio of 0.81 and a beta of 0.37. 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 company has a fifty day moving average of $200.72 and a 200-day moving average of $200.03. The Allstate Corporation has a one year low of $176.00 and a one year high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly 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. The company had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. Allstate's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.61 EPS. As a group, equities research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The company also recently announced 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. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio is 18.81%.

About Allstate

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.