Wesbanco Bank Inc. Acquires 1,587 Shares of The Allstate Corporation $ALL

Key Points

• Wesbanco Bank Inc. increased its holdings in The Allstate Corporation by 25.0% in the second quarter, acquiring 1,587 shares to reach a total of 7,947 shares worth approximately $1.6 million.
• Allstate reported quarterly earnings of $5.94 per share, significantly exceeding analysts' expectations of $3.20, though revenue of $15.05 billion fell short of estimates.
• The company recently announced a quarterly dividend of $1.00 per share, resulting in an annualized dividend yield of 2.0%, with a payout ratio of 18.81%.

Wesbanco Bank Inc. increased its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 25.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,947 shares of the insurance provider's stock after acquiring an additional 1,587 shares during the quarter. Wesbanco Bank Inc.'s holdings in Allstate were worth $1,600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of ALL. Rehmann Capital Advisory Group raised its position in shares of Allstate by 3.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock worth $338,000 after purchasing an additional 51 shares during the last quarter. Vantage Point Financial LLC grew its holdings in shares of Allstate by 3.6% in the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock worth $310,000 after acquiring an additional 52 shares during the period. Confluence Wealth Services Inc. increased its stake in shares of Allstate by 0.7% in the 1st quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock worth $1,558,000 after purchasing an additional 54 shares in the last quarter. Linscomb Wealth Inc. raised its stake in shares of Allstate by 1.3% in the first quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider's stock worth $845,000 after buying an additional 54 shares during the period. Finally, Ancora Advisors LLC lifted its holdings in Allstate by 0.7% during the first quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider's stock valued at $1,740,000 after purchasing an additional 55 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Trading Down 1.0%

ALL stock opened at $200.40 on Monday. The firm has a market cap of $52.81 billion, a P/E ratio of 9.42, a PEG ratio of 0.80 and a beta of 0.37. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $214.76. The company's 50-day simple moving average is $200.99 and its 200-day simple moving average is $200.49. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly 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. The firm had revenue of $15.05 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $1.61 EPS. As a group, equities analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

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 paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's dividend payout ratio is currently 18.81%.

Analyst Ratings Changes

A number of research analysts recently commented on ALL shares. Citigroup raised Allstate to a "hold" rating in a report on Wednesday, August 13th. UBS Group upped their price objective on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. William Blair assumed coverage on shares of Allstate in a research note on Friday, June 6th. They set a "sector outperform" rating for the company. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $260.00 target price (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. One research 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $231.21.

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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