Advisors Capital Management LLC Buys New Position in The Allstate Corporation $ALL

Advisors Capital Management LLC bought a new stake in shares of The Allstate Corporation (NYSE:ALL) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,456 shares of the insurance provider’s stock, valued at approximately $301,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Allstate by 0.5% in the first quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider’s stock worth $6,791,914,000 after purchasing an additional 164,662 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Allstate by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider’s stock worth $2,424,710,000 after purchasing an additional 2,374,684 shares in the last quarter. GQG Partners LLC raised its holdings in Allstate by 2.1% in the first quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider’s stock worth $912,288,000 after purchasing an additional 89,185 shares in the last quarter. Boston Partners raised its holdings in Allstate by 613.9% in the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider’s stock worth $512,627,000 after purchasing an additional 2,134,893 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Allstate by 24.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,358,883 shares of the insurance provider’s stock worth $454,769,000 after purchasing an additional 462,613 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 1.0%

Shares of NYSE:ALL opened at $200.40 on Friday. The stock has a market capitalization of $52.81 billion, a price-to-earnings ratio of 9.42, a PEG 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 stock’s 50-day simple moving average is $200.99 and its two-hundred day simple moving average is $200.45. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $214.76.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping 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 firm had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter last year, the company earned $1.61 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts expect that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate’s dividend payout ratio (DPR) is 18.81%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ALL shares. Citigroup upgraded Allstate to a “hold” rating in a report on Wednesday, August 13th. Raymond James Financial restated a “strong-buy” rating and set a $260.00 price target (up from $250.00) on shares of Allstate in a report on Monday, August 4th. Keefe, Bruyette & Woods raised their price target on Allstate from $237.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group increased their price objective on Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Allstate has an average rating of “Moderate Buy” and an average target price of $231.21.

Allstate Company Profile

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.