Vanguard Group Inc. Buys 164,662 Shares of The Allstate Corporation (NYSE:ALL)

Key Points

• Vanguard Group Inc. increased its stake in The Allstate Corporation by 0.5%, acquiring an additional 164,662 shares to hold a total of 32,800,086 shares, valued at approximately $6.79 billion.
• Institutional investors own 76.47% of Allstate's stock, with various hedge funds significantly raising their holdings, including Bank of America Corp DE's 157.9% increase.
• Allstate reported impressive earnings of $5.94 per share, significantly exceeding estimates, with annualized dividends of $4.00 per share, yielding 1.9% for investors.

Vanguard Group Inc. lifted its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,800,086 shares of the insurance provider's stock after acquiring an additional 164,662 shares during the period. Vanguard Group Inc. owned approximately 12.39% of Allstate worth $6,791,914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALL. Brighton Jones LLC lifted its position in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after acquiring an additional 2,443 shares during the period. Revolve Wealth Partners LLC bought a new position in shares of Allstate during the 4th quarter worth about $231,000. Stenger Family Office LLC acquired a new stake in shares of Allstate in the 4th quarter valued at about $439,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Allstate in the 4th quarter valued at about $377,000. Finally, Envestnet Asset Management Inc. raised its stake in Allstate by 17.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 279,365 shares of the insurance provider's stock worth $53,859,000 after buying an additional 42,118 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Raymond James Financial reaffirmed a "strong-buy" rating and set a $260.00 target price (up from $250.00) on shares of Allstate in a research report on Monday. William Blair assumed coverage on shares of Allstate in a report on Friday, June 6th. They set a "sector outperform" rating on the stock. Evercore ISI lifted their price objective on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. UBS Group raised their price target 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. Finally, Wells Fargo & Company set a $202.00 price objective on Allstate and gave the stock an "equal weight" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and a consensus target price of $230.00.

Allstate Stock Performance

Shares of NYSE ALL traded up $1.71 during mid-day trading on Friday, hitting $206.71. The company had a trading volume of 1,189,406 shares, compared to its average volume of 1,710,767. 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 Allstate Corporation has a 1 year low of $169.95 and a 1 year high of $213.18. The company has a market capitalization of $54.47 billion, a price-to-earnings ratio of 9.72, a P/E/G ratio of 0.85 and a beta of 0.35. The stock's 50-day moving average price is $198.31 and its 200-day moving average price is $197.77.

Allstate (NYSE:ALL - Get Free Report) last posted 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 business had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same quarter in the previous year, the firm earned $1.61 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate's payout ratio is 18.81%.

Allstate Profile

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.