The Allstate Corporation (NYSE:ALL) Shares Bought by GQG Partners LLC

Key Points

• GQG Partners LLC increased its stake in The Allstate Corporation by 2.1% during the 1st quarter, owning approximately 4.4 million shares valued at around $912 million.
• Allstate recently reported $5.94 EPS for its latest quarter, significantly exceeding analysts' expectations, with revenue of $15.05 billion.
• The company announced a quarterly dividend of $1.00 per share, representing an annualized amount of $4.00 and a yield of 1.9%.

GQG Partners LLC raised its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 2.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,405,701 shares of the insurance provider's stock after purchasing an additional 89,185 shares during the quarter. Allstate accounts for 1.5% of GQG Partners LLC's holdings, making the stock its 26th largest holding. GQG Partners LLC owned 1.66% of Allstate worth $912,288,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of America Corp DE raised its holdings in shares of 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 buying an additional 4,035,629 shares during the period. GAMMA Investing LLC increased its holdings in shares of Allstate by 25,026.1% in the 1st quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after acquiring an additional 1,268,825 shares during the last quarter. Castle Hook Partners LP boosted its position in shares of Allstate by 1,303.3% in the 4th quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after purchasing an additional 766,058 shares during the period. Mackenzie Financial Corp lifted its position in Allstate by 261.6% during the 4th quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock worth $160,575,000 after acquiring an additional 602,533 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Allstate by 27.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock valued at $482,073,000 after purchasing an additional 497,982 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

ALL has been the subject of several research analyst reports. Cantor Fitzgerald upgraded Allstate to a "hold" rating in a research report on Wednesday. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Barclays reaffirmed an "underweight" rating and issued a $198.00 price objective (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $260.00 price objective (up from $250.00) on shares of Allstate in a research note on Monday, August 4th. Finally, Morgan Stanley raised their price objective on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $229.33.

Allstate Trading Down 0.9%

Shares of ALL stock traded down $1.94 during mid-day trading on Friday, hitting $206.76. 1,049,492 shares of the company's stock were exchanged, compared to its average volume of 1,575,931. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $213.18. The stock has a market cap of $54.48 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.86 and a beta of 0.35. 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 50-day simple moving average of $198.18 and a two-hundred day simple moving average of $198.33.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. The business had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.61 earnings per share. Equities analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm 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. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio 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.