Victory Capital Management Inc. Purchases 48,495 Shares of The Allstate Corporation (NYSE:ALL)

Victory Capital Management Inc. increased its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 13.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 418,744 shares of the insurance provider's stock after buying an additional 48,495 shares during the quarter. Victory Capital Management Inc. owned about 0.16% of Allstate worth $86,709,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its stake in Allstate by 30.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider's stock worth $2,352,000 after buying an additional 2,643 shares during the period. Richard Bernstein Advisors LLC purchased a new stake in shares of Allstate in the first quarter worth approximately $3,341,000. Dock Street Asset Management Inc. purchased a new stake in shares of Allstate in the first quarter worth approximately $207,000. First Citizens Bank & Trust Co. raised its stake in shares of Allstate by 5.5% in the first quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock worth $11,906,000 after purchasing an additional 2,981 shares during the last quarter. Finally, Blackstone Inc. purchased a new stake in shares of Allstate in the fourth quarter worth approximately $52,053,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALL has been the subject of a number of research analyst reports. Barclays increased their price target on Allstate from $172.00 to $188.00 and gave the company an "underweight" rating in a research report on Monday, July 7th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. Wall Street Zen downgraded Allstate from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Evercore ISI increased their price target on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $250.00 price target (up from $240.00) on shares of Allstate in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $227.07.

Allstate Stock Up 0.6%

Shares of ALL stock traded up $1.19 during midday trading on Friday, reaching $194.21. 1,617,433 shares of the stock were exchanged, compared to its average volume of 1,645,045. The Allstate Corporation has a 1 year low of $162.27 and a 1 year high of $213.18. The company's 50 day moving average is $200.18 and its two-hundred day moving average is $196.67. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40. The firm has a market cap of $51.43 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.00 and a beta of 0.33.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $16.41 billion. During the same period in the prior year, the firm earned $5.13 earnings per share. The business's revenue for the quarter was up 7.8% 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 year.

Allstate Announces Dividend

The firm 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 $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 2.06%. Allstate's dividend payout ratio (DPR) is presently 27.32%.

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.