The Allstate Corporation $ALL Stock Holdings Increased by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in Allstate by 33.3% in the first quarter, adding 26,496 shares to bring its total to 106,100 shares worth about $22 million.
• Allstate reported strong quarterly results, with EPS of $10.65 beating estimates and revenue of $16.94 billion topping forecasts. Analysts now expect the insurer to earn 29.75 EPS for the full year.
• The company also declared a quarterly dividend of $1.08 per share, payable July 1, while analysts currently rate the stock a consensus Moderate Buy with a target price of $240.33.

Janney Montgomery Scott LLC increased its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 33.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 106,100 shares of the insurance provider's stock after purchasing an additional 26,496 shares during the quarter. Janney Montgomery Scott LLC's holdings in Allstate were worth $21,999,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in ALL. CIBC Bancorp USA Inc. acquired a new stake in Allstate during the third quarter valued at $7,814,000. Elo Mutual Pension Insurance Co increased its position in Allstate by 39.6% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 40,298 shares of the insurance provider's stock worth $8,650,000 after purchasing an additional 11,431 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Allstate by 5.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider's stock worth $112,533,000 after purchasing an additional 26,586 shares during the last quarter. Mezzasalma Advisors LLC raised its stake in shares of Allstate by 58.6% during the 4th quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider's stock worth $4,875,000 after purchasing an additional 8,837 shares in the last quarter. Finally, Meyer Handelman Co. lifted its holdings in shares of Allstate by 4.8% during the 4th quarter. Meyer Handelman Co. now owns 206,787 shares of the insurance provider's stock valued at $43,043,000 after buying an additional 9,438 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Down 1.5%

Shares of ALL stock opened at $237.88 on Wednesday. The stock's 50 day simple moving average is $218.65 and its 200 day simple moving average is $210.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $242.67. The company has a market capitalization of $61.23 billion, a price-to-earnings ratio of 5.25, a PEG ratio of 0.43 and a beta of 0.18.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion during the quarter, compared to analysts' expectations of $15.24 billion. During the same quarter in the prior year, the business earned $3.53 earnings per share. The company's revenue was up 3.0% on a year-over-year basis. As a group, research analysts predict that The Allstate Corporation will post 29.75 EPS for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st. Allstate's payout ratio is presently 9.53%.

Analyst Ratings Changes

ALL has been the subject of several recent research reports. Wall Street Zen cut Allstate from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Mizuho reduced their target price on shares of Allstate from $281.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, March 20th. Citigroup boosted their target price on shares of Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Barclays increased their price target on shares of Allstate from $207.00 to $208.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 8th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $231.00 price target on shares of Allstate in a report on Thursday, March 5th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Allstate has an average rating of "Moderate Buy" and a consensus target price of $240.33.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the transaction, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. This trade represents a 18.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company's stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 22,353 shares of company stock valued at $4,851,560. Company insiders own 1.55% of the company's stock.

Allstate Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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