FCA Corp TX Sells 2,783 Shares of The Allstate Corporation $ALL

Key Points

• FCA Corp TX reduced its stake in The Allstate Corporation by 12.8%, selling 2,783 shares, which now represents 1.3% of its investment portfolio, valued at approximately $3.94 million.
• Allstate reported a better-than-expected EPS of $5.94 for the last quarter, significantly beating analysts' estimates of $3.20, and its quarterly revenue increased by 5.8% year-over-year.
• The company has announced a quarterly dividend of $1.00 per share, with a dividend yield of 1.9%, reflecting a payout ratio of 18.81%.

FCA Corp TX trimmed its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 12.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,024 shares of the insurance provider's stock after selling 2,783 shares during the period. Allstate accounts for 1.3% of FCA Corp TX's holdings, making the stock its 26th largest position. FCA Corp TX's holdings in Allstate were worth $3,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Allstate by 0.5% in the first quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock valued at $6,791,914,000 after buying an additional 164,662 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Allstate by 2.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock valued at $1,799,681,000 after purchasing an additional 218,771 shares in the last quarter. Bank of America Corp DE raised its position in Allstate by 157.9% during the fourth 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 purchasing an additional 4,035,629 shares in the last quarter. GQG Partners LLC raised its position in Allstate by 2.1% during the first quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider's stock valued at $912,288,000 after purchasing an additional 89,185 shares in the last quarter. Finally, Northern Trust Corp raised its position in Allstate by 15.8% during the fourth quarter. Northern Trust Corp now owns 3,496,017 shares of the insurance provider's stock valued at $673,997,000 after purchasing an additional 477,221 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Trading Up 1.3%

NYSE ALL traded up $2.6740 on Tuesday, reaching $209.7640. The company had a trading volume of 280,355 shares, compared to its average volume of 1,728,017. 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 firm has a market cap of $55.27 billion, a price-to-earnings ratio of 9.86, a P/E/G ratio of 0.84 and a beta of 0.35. The business has a 50 day moving average of $198.28 and a two-hundred day moving average of $198.62. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. The business had revenue of $15.05 billion for the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on ALL shares. Raymond James Financial restated a "strong-buy" rating and set a $260.00 price objective (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Citigroup upgraded Allstate to a "hold" rating in a research note on Wednesday, August 13th. Cantor Fitzgerald upgraded Allstate to a "hold" rating in a research report on Wednesday, August 13th. Barclays restated an "underweight" rating and set a $198.00 price objective (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. Finally, UBS Group boosted their price objective on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Allstate has a consensus rating of "Moderate Buy" and an average price target of $229.33.

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.