The Allstate Corporation $ALL Shares Acquired by CX Institutional

Key Points

• CX Institutional significantly increased its holdings in Allstate Corporation by 504.8% during the second quarter, owning 30,186 shares valued at approximately $6.08 million.
• Allstate reported a strong earnings result with an Earnings Per Share (EPS) of $5.94 for the quarter, exceeding the consensus estimate by $2.74, although its revenue fell short of expectations at $15.05 billion.
• The company announced a $1.00 quarterly dividend to be paid on October 1st, representing an annualized yield of 1.9% and a dividend payout ratio of 18.81%.

CX Institutional boosted its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 504.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,186 shares of the insurance provider's stock after acquiring an additional 25,195 shares during the quarter. CX Institutional's holdings in Allstate were worth $6,077,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Arlington Trust Co LLC increased its holdings in Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock valued at $25,000 after buying an additional 89 shares during the period. Hughes Financial Services LLC bought a new stake in Allstate during the first quarter valued at about $28,000. Meeder Asset Management Inc. raised its holdings in Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after purchasing an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Allstate during the first quarter valued at about $43,000. Finally, Mattson Financial Services LLC purchased a new position in shares of Allstate in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Price Performance

Allstate stock traded up $0.31 during trading hours on Friday, hitting $205.99. The stock had a trading volume of 3,162,110 shares, compared to its average volume of 1,346,719. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $214.76. The stock has a market capitalization of $54.28 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.82 and a beta of 0.37. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The stock's fifty day moving average is $201.63 and its two-hundred day moving average is $200.52.

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

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's payout ratio is presently 18.81%.

Analyst Ratings Changes

ALL has been the topic of a number of research analyst reports. Citigroup upgraded shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. BMO Capital Markets upped their target price on Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Cantor Fitzgerald raised Allstate to a "hold" rating in a research report on Wednesday, August 13th. Keefe, Bruyette & Woods increased their price target on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Wolfe Research raised shares of Allstate to a "strong-buy" rating in a research note on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Allstate currently has a consensus rating of "Moderate Buy" and a consensus price target of $231.47.

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.