Tiaa Fsb lifted its stake in shares of Allstate Corp (NYSE:ALL) by 32.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,195 shares of the insurance provider’s stock after acquiring an additional 5,930 shares during the quarter. Tiaa Fsb’s holdings in Allstate were worth $2,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of ALL. JPMorgan Chase & Co. raised its position in shares of Allstate by 44.0% during the third quarter. JPMorgan Chase & Co. now owns 1,837,117 shares of the insurance provider’s stock worth $181,324,000 after acquiring an additional 561,747 shares during the last quarter. Virtu Financial LLC bought a new stake in Allstate in the third quarter worth approximately $224,000. LPL Financial LLC increased its holdings in Allstate by 38.3% in the third quarter. LPL Financial LLC now owns 46,540 shares of the insurance provider’s stock worth $4,593,000 after purchasing an additional 12,888 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Allstate by 13.6% in the third quarter. Pacer Advisors Inc. now owns 18,752 shares of the insurance provider’s stock worth $1,851,000 after purchasing an additional 2,244 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Allstate by 17.0% in the third quarter. Mackenzie Financial Corp now owns 6,406 shares of the insurance provider’s stock worth $632,000 after purchasing an additional 929 shares in the last quarter. Institutional investors own 79.43% of the company’s stock.
Several equities research analysts have recently commented on ALL shares. Wells Fargo & Co restated a “hold” rating and set a $94.00 price objective on shares of Allstate in a report on Tuesday, March 12th. ValuEngine downgraded Allstate from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Compass Point started coverage on Allstate in a report on Tuesday, January 15th. They set a “buy” rating and a $114.00 price objective for the company. Credit Suisse Group decreased their price objective on Allstate from $112.00 to $93.00 and set a “buy” rating for the company in a report on Thursday, December 20th. Finally, William Blair upgraded Allstate from an “underperform” rating to a “market perform” rating in a report on Wednesday, February 6th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $101.50.
Shares of NYSE:ALL opened at $98.19 on Wednesday. The company has a market cap of $32.69 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.25 and a beta of 0.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. Allstate Corp has a 12-month low of $77.00 and a 12-month high of $102.73.
Allstate (NYSE:ALL) last announced its earnings results on Tuesday, February 5th. The insurance provider reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.23. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.66 billion. Allstate had a return on equity of 14.00% and a net margin of 5.66%. Allstate’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 earnings per share. As a group, research analysts predict that Allstate Corp will post 9.28 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, February 28th were given a dividend of $0.50 per share. This is a boost from Allstate’s previous quarterly dividend of $0.46. The ex-dividend date was Wednesday, February 27th. This represents a $2.00 annualized dividend and a dividend yield of 2.04%. Allstate’s payout ratio is presently 24.78%.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
Further Reading: Percentage Decliners
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