The Allstate Corporation $ALL Shares Sold by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. reduced its stake in The Allstate Corporation by 6.2% during Q1, now holding 40,613 shares valued at $8,410,000.
• Despite a consensus rating of “Moderate Buy”, analysts have varying price targets, with Barclays maintaining an "underweight" rating at $198.00 and Jefferies and Morgan Stanley raising their targets to $255.00 and $245.00 respectively.
• The Allstate Corporation announced a quarterly dividend of $1.00 per share, with a yield of 2.0%, set to be paid to shareholders on October 1st.

Baird Financial Group Inc. cut its position in The Allstate Corporation (NYSE:ALL - Free Report) by 6.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,613 shares of the insurance provider's stock after selling 2,674 shares during the period. Baird Financial Group Inc.'s holdings in Allstate were worth $8,410,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ALL. Hughes Financial Services LLC acquired a new stake in Allstate during the first quarter worth about $28,000. Meeder Asset Management Inc. grew its holdings in Allstate by 113.8% during the first 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 period. McClarren Financial Advisors Inc. acquired a new stake in Allstate during the first quarter worth about $43,000. Mattson Financial Services LLC acquired a new stake in Allstate during the fourth quarter worth about $44,000. Finally, Wayfinding Financial LLC acquired a new stake in Allstate during the first quarter worth about $54,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on ALL shares. Barclays reaffirmed an "underweight" rating and set a $198.00 target price (up from $188.00) on shares of Allstate in a report on Thursday, July 31st. Jefferies Financial Group increased their price target on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Morgan Stanley increased their price target on Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Cantor Fitzgerald upgraded Allstate to a "hold" rating in a research report on Wednesday, August 13th. 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 report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $231.21.

Allstate Price Performance

ALL stock opened at $204.37 on Thursday. The business has a fifty day moving average of $200.32 and a two-hundred day moving average of $199.74. 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 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 issued 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. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. As a group, research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 dividend on an annualized basis 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.

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