WBI Investments LLC Has $260,000 Stock Position in The Allstate Corporation $ALL

Key Points

• WBI Investments LLC has significantly reduced its stake in The Allstate Corporation by 88.8%, now holding 1,255 shares valued at $260,000 after selling 9,922 shares.
• Various institutional investors have increased their holdings in Allstate, with Boston Partners raising shares by 613.9% and GAMMA Investing LLC by 25,026.1% in the first quarter.
• Analyst reports show a positive outlook for Allstate, with a consensus rating of "Moderate Buy" and recommendations from multiple analysts to purchase the stock at a target price of $231.21.

WBI Investments LLC reduced its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 88.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,255 shares of the insurance provider's stock after selling 9,922 shares during the period. WBI Investments LLC's holdings in Allstate were worth $260,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALL. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 valued at $2,424,710,000 after purchasing an additional 2,374,684 shares during the last quarter. Boston Partners raised its holdings in shares of Allstate by 613.9% in the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider's stock valued at $512,627,000 after purchasing an additional 2,134,893 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Allstate by 25,026.1% in the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock valued at $263,785,000 after purchasing an additional 1,268,825 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Allstate by 261.6% in the fourth quarter. Mackenzie Financial Corp now owns 832,902 shares of the insurance provider's stock valued at $160,575,000 after purchasing an additional 602,533 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Allstate by 27.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider's stock valued at $482,073,000 after purchasing an additional 497,982 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ALL shares. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Tuesday, August 5th. William Blair initiated coverage on shares of Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating on the stock. UBS Group boosted their target price on shares of Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Jefferies Financial Group boosted their target price on shares of Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, Citigroup upgraded shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $231.21.

Allstate Trading Up 1.2%

ALL stock opened at $202.51 on Friday. The company has a fifty day moving average price of $200.92 and a two-hundred day moving average price of $200.30. The stock has a market cap of $53.36 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 0.80 and a beta of 0.37. The Allstate Corporation has a one year low of $176.00 and a one year high of $214.76. 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 earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. The company had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. Allstate's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.61 earnings per share. Equities analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate's dividend payout ratio is currently 18.81%.

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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