TimesSquare Capital Management LLC Reduces Position in The Allstate Corporation (NYSE:ALL)

TimesSquare Capital Management LLC reduced its position in The Allstate Corporation (NYSE:ALL - Free Report) by 12.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 371,303 shares of the insurance provider's stock after selling 54,675 shares during the quarter. Allstate comprises approximately 1.2% of TimesSquare Capital Management LLC's investment portfolio, making the stock its 22nd biggest holding. TimesSquare Capital Management LLC owned about 0.14% of Allstate worth $76,886,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Allstate by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider's stock valued at $6,291,783,000 after buying an additional 389,426 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Allstate by 2.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock worth $1,799,681,000 after acquiring an additional 218,771 shares during the last quarter. Bank of America Corp DE lifted its position in Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock worth $1,270,705,000 after acquiring an additional 4,035,629 shares during the period. Geode Capital Management LLC grew its stake in Allstate by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider's stock valued at $1,236,060,000 after purchasing an additional 191,147 shares during the last quarter. Finally, GQG Partners LLC increased its holdings in shares of Allstate by 64.1% in the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock valued at $832,181,000 after purchasing an additional 1,685,694 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Price Performance

NYSE ALL traded up $3.02 on Monday, hitting $196.35. The company had a trading volume of 1,287,077 shares, compared to its average volume of 1,771,342. 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 capitalization of $52.00 billion, a PE ratio of 13.41, a PEG ratio of 1.00 and a beta of 0.33. The Allstate Corporation has a 12-month low of $162.27 and a 12-month high of $213.18. The company's fifty day moving average price is $200.99 and its 200-day moving average price is $196.67.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The company had revenue of $14.30 billion for the quarter, compared to analysts' expectations of $16.41 billion. During the same period in the prior year, the firm earned $5.13 EPS. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 9th were given a $1.00 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $4.00 annualized dividend and a dividend yield of 2.04%. Allstate's dividend payout ratio (DPR) is presently 27.32%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays increased their price target on shares of Allstate from $172.00 to $188.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. Evercore ISI increased their price objective on shares of Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Wells Fargo & Company decreased their target price on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods increased their price target on Allstate from $235.00 to $237.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, William Blair started coverage on Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Allstate presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.07.

About Allstate

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.