US Bancorp DE Sells 1,956 Shares of The Allstate Corporation $ALL

Key Points

• US Bancorp DE decreased its ownership in The Allstate Corporation by 1.8%, selling 1,956 shares in the second quarter, which left them with holdings worth approximately $21.64 million.
• Allstate reported earnings of $5.94 per share, significantly beating analysts' expectations of $3.20, although the revenue of $15.05 billion fell short of the $16.59 billion forecasted.
• Major analysts have recently raised their price targets on Allstate stock, with JPMorgan Chase & Co. setting a new target of $254.00, reflecting a strong outlook for the company.

US Bancorp DE reduced its position in The Allstate Corporation (NYSE:ALL - Free Report) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,514 shares of the insurance provider's stock after selling 1,956 shares during the quarter. US Bancorp DE's holdings in Allstate were worth $21,644,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Allstate by 0.5% in the first quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock worth $6,791,914,000 after purchasing an additional 164,662 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Allstate by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider's stock worth $2,424,710,000 after purchasing an additional 2,374,684 shares during the period. GQG Partners LLC lifted its position in Allstate by 2.1% in the first quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider's stock worth $912,288,000 after purchasing an additional 89,185 shares during the period. Boston Partners lifted its position in Allstate by 613.9% in the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock worth $512,627,000 after purchasing an additional 2,134,893 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Allstate by 27.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock worth $482,073,000 after purchasing an additional 497,982 shares during the period. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

Shares of NYSE:ALL opened at $205.59 on Friday. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.70. The firm has a market cap of $54.18 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 0.80 and a beta of 0.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The business has a fifty day moving average of $206.06 and a 200-day moving average of $201.13.

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

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, August 29th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, August 29th. Allstate's dividend payout ratio (DPR) is presently 18.81%.

Analysts Set New Price Targets

ALL has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on Allstate from $235.00 to $254.00 and gave the stock an "overweight" rating in a research note on Thursday. UBS Group increased their price objective on Allstate from $235.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. Barclays reiterated an "underweight" rating and set a $198.00 price objective (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Finally, Citigroup upgraded Allstate to a "hold" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $234.50.

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.

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