Vanguard Group Inc. Purchases 79,789 Shares of The Allstate Corporation $ALL

Key Points

• Vanguard Group increased its Allstate stake by 79,789 shares in Q4, bringing its total to 33,221,772 shares (about a 12.70% stake) valued at roughly $6.92 billion.
• Allstate reported a strong Q4 with EPS of $14.31 versus $8.72 expected and revenue of $17.35 billion, posting a 15.19% net margin and 39.2% return on equity.
• Allstate raised its quarterly dividend to $1.08 (annualized $4.32) for a 2.0% yield, and analysts view the stock as a "Moderate Buy" with a consensus price target of $238.65.

Vanguard Group Inc. increased its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 0.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 33,221,772 shares of the insurance provider's stock after purchasing an additional 79,789 shares during the period. Vanguard Group Inc. owned 12.70% of Allstate worth $6,915,112,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Munich Reinsurance Co Stock Corp in Munich increased its holdings in shares of Allstate by 69.5% during the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 36,064 shares of the insurance provider's stock worth $7,541,000 after acquiring an additional 14,785 shares during the last quarter. Riverbend Wealth Management LLC acquired a new stake in Allstate during the 4th quarter valued at $202,000. Dunhill Financial LLC boosted its position in Allstate by 7,996.7% during the fourth quarter. Dunhill Financial LLC now owns 2,429 shares of the insurance provider's stock worth $506,000 after purchasing an additional 2,399 shares during the period. Concurrent Investment Advisors LLC boosted its position in Allstate by 23.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 17,013 shares of the insurance provider's stock worth $3,541,000 after purchasing an additional 3,249 shares during the period. Finally, Calamos Wealth Management LLC increased its holdings in shares of Allstate by 8.1% in the fourth quarter. Calamos Wealth Management LLC now owns 5,754 shares of the insurance provider's stock valued at $1,198,000 after purchasing an additional 432 shares during the last quarter. Institutional investors own 76.47% of the company's stock.

Allstate Trading Up 0.1%

Shares of Allstate stock opened at $213.15 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a 50-day moving average of $209.79 and a 200-day moving average of $205.63. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $219.48. The stock has a market cap of $55.04 billion, a PE ratio of 5.58, a PEG ratio of 0.43 and a beta of 0.22.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping analysts' consensus estimates of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The business had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. During the same period last year, the firm earned $7.67 earnings per share. Allstate's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that The Allstate Corporation will post 25.82 EPS for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were issued a dividend of $1.08 per share. This is a boost from Allstate's previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, March 2nd. Allstate's payout ratio is 11.31%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALL. Weiss Ratings upgraded shares of Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, March 23rd. Mizuho decreased their price target on shares of Allstate from $281.00 to $265.00 and set an "outperform" rating on the stock in a research note on Friday, March 20th. Wells Fargo & Company increased their price target on shares of Allstate from $227.00 to $229.00 and gave the company an "equal weight" rating in a report on Thursday, April 9th. Citigroup raised their price objective on shares of Allstate from $216.00 to $221.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 10th. Finally, Evercore set a $225.00 price objective on Allstate in a report on Wednesday, January 7th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Allstate has an average rating of "Moderate Buy" and a consensus price target of $238.65.

Allstate Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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