Zurich Insurance Group Ltd FI Invests $22.41 Million in The Allstate Corporation $ALL

Key Points

• Zurich Insurance Group Ltd FI made a new investment of approximately $22.41 million by purchasing 108,198 shares of The Allstate Corporation.
• Allstate's quarterly earnings report showed an EPS of $5.94, significantly surpassing analysts' expectations of $3.20.
• The company announced a quarterly dividend of $1.00 per share, with an annualized yield of 2.0%, payable on October 1st.

Zurich Insurance Group Ltd FI purchased a new position in The Allstate Corporation (NYSE:ALL - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 108,198 shares of the insurance provider's stock, valued at approximately $22,405,000.

Other large investors also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in shares of Allstate by 12.6% during the 1st quarter. Empowered Funds LLC now owns 16,302 shares of the insurance provider's stock worth $3,376,000 after acquiring an additional 1,830 shares in the last quarter. MBB Public Markets I LLC purchased a new stake in shares of Allstate during the 1st quarter worth approximately $312,000. Ascent Group LLC raised its holdings in shares of Allstate by 10.1% during the 1st quarter. Ascent Group LLC now owns 5,626 shares of the insurance provider's stock worth $1,165,000 after acquiring an additional 517 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Allstate during the 1st quarter worth approximately $1,269,000. Finally, Arete Wealth Advisors LLC purchased a new stake in shares of Allstate during the 1st quarter worth approximately $864,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Down 1.0%

Allstate stock traded down $2.07 during mid-day trading on Friday, hitting $200.40. The company's stock had a trading volume of 1,136,388 shares, compared to its average volume of 1,202,326. The company has a 50 day moving average of $200.99 and a 200-day moving average of $200.37. The stock has a market cap of $52.81 billion, a PE ratio of 9.42, a P/E/G ratio of 0.81 and a beta of 0.37. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The Allstate Corporation has a one year low of $176.00 and a one year high of $214.76.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating the consensus estimate of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the prior year, the company posted $1.61 EPS. Allstate's quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ALL shares. Barclays reaffirmed an "underweight" rating and set a $198.00 price objective (up from $188.00) on shares of Allstate in a report on Thursday, July 31st. Raymond James Financial restated a "strong-buy" rating and set a $260.00 price target (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. Citigroup upgraded Allstate to a "hold" rating in a report on Wednesday, August 13th. Jefferies Financial Group increased their price target on Allstate from $254.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 11th. Finally, Cantor Fitzgerald upgraded Allstate to a "hold" rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.