Allstate Corporation (NYSE:ALL) Attracts Investment and Analyst Attention
The Allstate Corporation (NYSE:ALL) has been the subject of recent activity from institutional investors and Wall Street analysts, indicating ongoing interest in the insurance provider's stock. Several firms have either initiated new positions, increased existing holdings, or adjusted their price targets and ratings on Allstate.
Institutional Investor Activity in Allstate (ALL)
Several institutional investors have made significant moves in The Allstate Corporation stock. Financiere des Professionnels Fonds d investissement inc. established a new position in the second quarter, purchasing 3,683 shares valued at approximately $741,000. Zurich Insurance Group Ltd FI also established a new position in Q1, acquiring 108,198 shares valued at $22.41 million. First Hawaiian Bank purchased a new stake in Q1, buying 2,299 shares valued at $476,000.
Other institutions that boosted their holdings include Vanguard Group Inc., which increased its stake by 0.5% in Q1 to 32,800,086 shares; Price T Rowe Associates Inc. MD, which increased its holdings by 25.4% in Q1 to 11,709,610 shares; GQG Partners LLC, which boosted its holdings by 2.1% in Q1 to 4,405,701 shares; and Boston Partners, which significantly increased its holdings by 613.9% in Q1 to 2,482,654 shares. Institutional investors and hedge funds collectively own 76.47% of Allstate's stock.
Analyst Ratings and Price Targets for ALL
Wall Street analysts have also been actively evaluating Allstate. UBS Group raised its price target from $230.00 to $235.00, maintaining a "buy" rating. Similarly, Jefferies Financial Group increased its price target from $254.00 to $255.00, also maintaining a "buy" rating. Raymond James Financial reiterated a "strong-buy" rating with a price target of $260.00. Keefe, Bruyette & Woods upped their price target on Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating.
Other notable ratings changes include Wall Street Zen's upgrade from "hold" to "buy," Wolfe Research's upgrade to a "strong-buy" rating, and Cantor Fitzgerald's upgrade to a "hold" rating. Overall, the consensus rating for Allstate is "Moderate Buy" with an average price target of $231.47, according to MarketBeat.com.
Allstate's Financial Performance and Dividend
Allstate recently reported its earnings results on July 30th, announcing an EPS of $5.94, exceeding the consensus estimate of $3.20. The company's revenue for the quarter was $15.05 billion, compared to an analyst estimate of $16.59 billion. Allstate has a market capitalization of $51.92 billion, a PE ratio of 9.26, and a beta of 0.37. The company's revenue was up 5.8% compared to the same quarter last year.
Allstate also announced a quarterly dividend of $1.00 per share, payable on Wednesday, October 1st, to stockholders of record on Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. The payout ratio is currently 18.81%.
Allstate Stock Performance and Key Metrics
On Thursday, NYSE:ALL opened at $197.04. The stock has a 50-day moving average of $201.16 and a 200-day moving average of $200.42. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $214.76. The company possesses a current ratio of 0.43, a quick ratio of 0.43, and a debt-to-equity ratio of 0.37.
Company Profile
The Allstate Corporation, along with its subsidiaries, offers property and casualty, and other insurance products in the United States and Canada. It operates through five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.
