United Services Automobile Association Makes New $1.27 Million Investment in The Allstate Corporation $ALL

Key Points

• United Services Automobile Association has acquired a new position in The Allstate Corporation, purchasing 6,145 shares valued at approximately $1.27 million in the first quarter, adding to a trend of institutional investment in the company.
• Wall Street analysts have mixed opinions on Allstate's stock, with targets ranging from $198 to $255, and a consensus rating of "Moderate Buy" reflecting optimism despite a recent 0.6% drop in stock price.
• Allstate has reported strong earnings, with $5.94 EPS in its recent quarter, significantly beating expectations, while also announcing a quarterly dividend of $1.00 per share, indicating a 2.0% yield.

United Services Automobile Association acquired a new stake in The Allstate Corporation (NYSE:ALL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,145 shares of the insurance provider's stock, valued at approximately $1,269,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group increased its holdings in shares of Allstate by 3.2% in the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock valued at $338,000 after purchasing an additional 51 shares during the last quarter. Vantage Point Financial LLC increased its holdings in shares of Allstate by 3.6% in the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock valued at $310,000 after purchasing an additional 52 shares during the last quarter. Confluence Wealth Services Inc. increased its holdings in shares of Allstate by 0.7% in the first quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock valued at $1,558,000 after purchasing an additional 54 shares during the last quarter. Linscomb Wealth Inc. increased its holdings in shares of Allstate by 1.3% in the first quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider's stock valued at $845,000 after purchasing an additional 54 shares during the last quarter. Finally, Ancora Advisors LLC increased its holdings in shares of Allstate by 0.7% in the first quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider's stock valued at $1,740,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Price Performance

ALL traded down $2.07 on Friday, hitting $200.40. 1,136,388 shares of the stock were exchanged, compared to its average volume of 1,691,035. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $214.76. The business has a 50-day moving average of $200.92 and a two-hundred day moving average of $200.30. 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 capitalization of $52.81 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.80 and a beta of 0.37.

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

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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 annualized dividend and a yield of 2.0%. Allstate's dividend payout ratio is currently 18.81%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ALL shares. BMO Capital Markets upped their price objective on shares of Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Cantor Fitzgerald raised shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, August 5th. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Finally, UBS Group boosted their target price on shares of Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.