Wells Fargo & Company MN reduced its position in Allstate (NYSE:ALL) by 14.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,504,936 shares of the insurance provider’s stock after selling 776,562 shares during the period. Wells Fargo & Company MN owned 1.27% of Allstate worth $427,068,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in ALL. BlackRock Inc. raised its stake in Allstate by 5.8% in the 4th quarter. BlackRock Inc. now owns 26,950,291 shares of the insurance provider’s stock valued at $2,821,964,000 after acquiring an additional 1,466,802 shares during the period. Two Sigma Advisers LP raised its stake in Allstate by 122.7% in the 4th quarter. Two Sigma Advisers LP now owns 1,673,996 shares of the insurance provider’s stock valued at $175,284,000 after acquiring an additional 922,168 shares during the period. APG Asset Management N.V. raised its stake in Allstate by 20.2% in the 4th quarter. APG Asset Management N.V. now owns 4,047,736 shares of the insurance provider’s stock valued at $352,963,000 after acquiring an additional 679,300 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in Allstate by 639.1% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 629,460 shares of the insurance provider’s stock valued at $65,911,000 after acquiring an additional 544,300 shares during the period. Finally, Bank of Montreal Can raised its stake in Allstate by 13.2% in the 4th quarter. Bank of Montreal Can now owns 3,721,761 shares of the insurance provider’s stock valued at $389,706,000 after acquiring an additional 434,191 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.
A number of brokerages recently issued reports on ALL. Argus boosted their price objective on Allstate from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 9th. Zacks Investment Research upgraded Allstate from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Monday, May 7th. Citigroup lowered their price objective on Allstate from $113.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, May 4th. Wells Fargo set a $100.00 price objective on Allstate and gave the company a “hold” rating in a research note on Tuesday, May 1st. Finally, Keefe, Bruyette & Woods upgraded Allstate from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $90.00 to $93.00 in a research note on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Allstate has a consensus rating of “Hold” and a consensus target price of $101.46.
Shares of ALL opened at $95.86 on Wednesday. Allstate has a twelve month low of $95.39 and a twelve month high of $96.27. The stock has a market cap of $33.55 billion, a PE ratio of 14.29, a P/E/G ratio of 1.29 and a beta of 0.94. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33.
Allstate (NYSE:ALL) last announced its quarterly earnings results on Tuesday, May 1st. The insurance provider reported $2.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.61 by $0.35. Allstate had a return on equity of 14.56% and a net margin of 8.93%. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.04 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. sell-side analysts predict that Allstate will post 8.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Thursday, May 31st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Wednesday, May 30th. Allstate’s dividend payout ratio is presently 27.42%.
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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