Parnassus Investments LLC Has $87.13 Million Stock Holdings in The Allstate Corporation $ALL

Key Points

• Parnassus Investments LLC reduced its holdings in The Allstate Corporation by 5.8%, selling 26,070 shares, and now owns approximately 0.16% of the company, valued at $87.1 million.
• Wall Street analysts have a consensus price target of $230.73 for Allstate, with a mix of ratings including one "Strong Buy" and thirteen "Buy".
• Allstate recently announced a quarterly dividend of $1.00 per share, which translates to an annualized payout of $4.00 with a yield of 2.0%.

Parnassus Investments LLC lessened its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 420,771 shares of the insurance provider's stock after selling 26,070 shares during the quarter. Parnassus Investments LLC owned about 0.16% of Allstate worth $87,129,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ALL. 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 grew its holdings in Allstate by 25.4% during 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 period. Bank of America Corp DE lifted its holdings in Allstate by 157.9% in 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 lifted its holdings in 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 acquiring an additional 89,185 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Allstate by 7.2% during the 4th quarter. Deutsche Bank AG now owns 3,233,681 shares of the insurance provider's stock valued at $623,421,000 after purchasing an additional 217,468 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Down 0.2%

Shares of NYSE:ALL traded down $0.33 during trading on Tuesday, reaching $203.12. 732,414 shares of the company traded hands, compared to its average volume of 1,707,564. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $214.76. 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 firm has a market cap of $53.52 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 0.82 and a beta of 0.37. The firm has a fifty day simple moving average of $199.92 and a 200 day simple moving average of $199.69.

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

Allstate Dividend Announcement

The company also recently disclosed 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 is currently 18.81%.

Analyst Ratings Changes

Several research firms recently commented on ALL. Jefferies Financial Group increased their target price on shares of Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Morgan Stanley increased 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. Cantor Fitzgerald upgraded Allstate to a "hold" rating in a report on Wednesday, August 13th. Keefe, Bruyette & Woods upped their target price on Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $260.00 price target (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $230.73.

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.