Zurcher Kantonalbank Zurich Cantonalbank Sells 52,911 Shares of The Allstate Corporation (NYSE:ALL)

Key Points

• Zurcher Kantonalbank sold 52,911 shares of The Allstate Corporation, reducing its holdings by 28.3%, leaving it with 133,881 shares valued at approximately $27.7 million.
• The Allstate Corporation reported a quarterly earnings of $3.53 per share, missing analyst estimates of $3.98, while total revenue for the quarter was $14.3 billion, which also fell short of expectations.
• A quarterly dividend of $1.00 per share was declared, set to be paid on October 1st, resulting in an annualized dividend of $4.00 and a yield of 2.08%.

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 28.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 133,881 shares of the insurance provider's stock after selling 52,911 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Allstate worth $27,723,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALL. Brighton Jones LLC lifted its holdings in Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after purchasing an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Allstate during the 4th quarter worth approximately $231,000. Stenger Family Office LLC acquired a new stake in Allstate during the 4th quarter worth approximately $439,000. JPMorgan Chase & Co. lifted its holdings in Allstate by 30.6% during the 4th quarter. JPMorgan Chase & Co. now owns 755,015 shares of the insurance provider's stock worth $145,560,000 after purchasing an additional 177,081 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in Allstate during the 4th quarter worth approximately $61,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

Allstate stock opened at $191.93 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The Allstate Corporation has a 52 week low of $168.29 and a 52 week high of $213.18. The stock has a market capitalization of $50.83 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 1.01 and a beta of 0.33. The stock has a fifty day moving average of $198.98 and a 200-day moving average of $197.03.

Allstate (NYSE:ALL - Get Free Report) last posted 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 business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same period last year, the firm posted $5.13 EPS. Allstate's quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.08%. Allstate's dividend payout ratio (DPR) is currently 27.32%.

Analyst Ratings Changes

Several research firms recently weighed in on ALL. Evercore ISI lifted their price target on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Keefe, Bruyette & Woods lifted their price target on Allstate from $235.00 to $237.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen cut Allstate from a "buy" rating to a "hold" rating in a report on Monday. Morgan Stanley lifted their price target on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, UBS Group lifted their price objective on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $227.07.

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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