UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $475.42 Million Stock Position in The Allstate Corporation $ALL

Key Points

• UBS Asset Management reduced its stake in The Allstate Corporation by 2.7%, selling 62,937 shares and now holding 2,295,946 shares valued at approximately $475 million.
• Despite UBS's reduction, institutions like Vanguard Group and Price T Rowe Associates increased their positions, reflecting a strong interest from institutional investors.
• Allstate announced a quarterly dividend of $1.00 per share, representing an annualized dividend yield of 2.0% with a payout ratio of 18.81%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lessened its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 2.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,295,946 shares of the insurance provider's stock after selling 62,937 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.87% of Allstate worth $475,422,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ALL. Optimize Financial Inc acquired a new position in shares of Allstate during the first quarter valued at $389,000. Zurich Insurance Group Ltd FI acquired a new position in shares of Allstate during the first quarter valued at $22,405,000. Empowered Funds LLC lifted its stake in shares of Allstate by 12.6% during the first quarter. Empowered Funds LLC now owns 16,302 shares of the insurance provider's stock valued at $3,376,000 after acquiring an additional 1,830 shares during the period. MBB Public Markets I LLC acquired a new position in shares of Allstate during the first quarter valued at $312,000. Finally, Ascent Group LLC lifted its stake in shares of Allstate by 10.1% during the first quarter. Ascent Group LLC now owns 5,626 shares of the insurance provider's stock valued at $1,165,000 after acquiring an additional 517 shares during the period. Institutional investors own 76.47% of the company's stock.

Allstate Stock Down 1.0%

Shares of NYSE ALL traded down $2.07 during mid-day trading on Friday, reaching $200.40. 1,136,388 shares of the company's stock were exchanged, compared to its average volume of 1,202,326. The firm has a market capitalization of $52.81 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.81 and a beta of 0.37. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $200.99 and a 200 day simple moving average of $200.37. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping 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 return on equity of 28.74% and a net margin of 8.79%.Allstate's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.61 earnings per share. As a group, equities analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio (DPR) is currently 18.81%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ALL. Keefe, Bruyette & Woods upped their price target on Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Barclays reaffirmed an "underweight" rating and set a $198.00 price target (up previously from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Morgan Stanley increased their target price on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wells Fargo & Company set a $202.00 target price on Allstate and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group increased their target price on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Allstate currently has a consensus rating of "Moderate Buy" and a consensus price target of $231.21.

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.