The Allstate Corporation (NYSE:ALL) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its stake in The Allstate Corporation by 3.3%, holding 109,470 shares valued at approximately $22.67 million as of the latest reporting period.
• Allstate reported $5.94 earnings per share for the last quarter, which surpassed analysts' expectations of $3.20, with a revenue of $15.05 billion, below the estimated $16.59 billion.
• The company has announced a quarterly dividend of $1.00 per share, resulting in a 2.0% dividend yield, with the ex-dividend date set for August 29th.

US Bancorp DE lessened its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 3.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 109,470 shares of the insurance provider's stock after selling 3,761 shares during the quarter. US Bancorp DE's holdings in Allstate were worth $22,668,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in Allstate during the 1st quarter worth approximately $28,000. Kapitalo Investimentos Ltda acquired a new stake in Allstate during the 4th quarter worth approximately $29,000. Meeder Asset Management Inc. boosted its holdings in Allstate by 113.8% in the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock worth $39,000 after acquiring an additional 99 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Allstate in the 4th quarter worth approximately $40,000. Finally, Mattson Financial Services LLC purchased a new position in Allstate in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Performance

ALL traded up $2.48 during trading hours on Tuesday, hitting $205.51. 1,781,515 shares of the stock were exchanged, compared to its average volume of 1,718,708. The stock has a 50-day simple moving average of $198.36 and a 200-day simple moving average of $197.41. The Allstate Corporation has a 12 month low of $169.20 and a 12 month high of $213.18. The stock has a market cap of $54.15 billion, a price-to-earnings ratio of 9.66, a price-to-earnings-growth ratio of 0.87 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

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

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 1.9%. Allstate's dividend payout ratio (DPR) is currently 18.81%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price target on Allstate from $235.00 to $237.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wells Fargo & Company upped their price target on Allstate from $197.00 to $202.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, Barclays restated an "underweight" rating and issued a $198.00 price target (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $229.40.

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.