Mackenzie Financial Corp Purchases 131,038 Shares of The Allstate Corporation (NYSE:ALL)

Key Points

• Mackenzie Financial Corp increased its stake in The Allstate Corporation by 41.9%, purchasing 131,038 shares during the first quarter, bringing its total ownership to 443,708 shares worth approximately $91.88 million.
• Allstate's shares traded at $193.83, with a market capitalization of $51.33 billion and a price-to-earnings ratio of 13.24.
• The company announced a quarterly dividend of $1.00 per share, yielding 2.06%, payable on October 1st to stockholders of record.

Mackenzie Financial Corp lifted its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 41.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 443,708 shares of the insurance provider's stock after purchasing an additional 131,038 shares during the quarter. Mackenzie Financial Corp owned about 0.17% of Allstate worth $91,879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Hughes Financial Services LLC bought a new position in Allstate in the 1st quarter valued at approximately $28,000. Kapitalo Investimentos Ltda bought a new position in Allstate in the 4th quarter valued at approximately $29,000. Aster Capital Management DIFC Ltd bought a new position in Allstate in the 4th quarter valued at approximately $40,000. Mattson Financial Services LLC bought a new stake in Allstate in the 4th quarter worth about $44,000. Finally, Wayfinding Financial LLC bought a new stake in Allstate in the 1st quarter worth about $54,000. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

Shares of NYSE:ALL traded up $1.83 during midday trading on Tuesday, hitting $193.83. The company had a trading volume of 1,419,104 shares, compared to its average volume of 1,428,124. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $51.33 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 1.00 and a beta of 0.33. The Allstate Corporation has a 12-month low of $168.36 and a 12-month high of $213.18. The company has a fifty day moving average of $198.69 and a two-hundred day moving average of $197.01.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). The company had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $5.13 earnings per share. On average, equities research analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.06%. Allstate's dividend payout ratio (DPR) is 27.32%.

Analyst Ratings Changes

Several equities research analysts recently commented on ALL shares. JPMorgan Chase & Co. lifted their price objective on Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Evercore ISI lifted their price objective on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Wells Fargo & Company reduced their price objective on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Barclays lifted their price objective on Allstate from $172.00 to $188.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. Finally, Morgan Stanley boosted their target price on shares of Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $227.07.

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.