Aberdeen Group plc Grows Position in The Allstate Corporation $ALL

Aberdeen Group plc grew its stake in shares of The Allstate Corporation (NYSE:ALL) by 6.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 201,474 shares of the insurance provider’s stock after acquiring an additional 11,475 shares during the quarter. Aberdeen Group plc’s holdings in Allstate were worth $40,559,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Arlington Trust Co LLC increased its position in Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after buying an additional 89 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Allstate during the first quarter worth $28,000. Hilltop National Bank purchased a new position in Allstate during the second quarter worth $34,000. Meeder Asset Management Inc. increased its position in Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock worth $39,000 after buying an additional 99 shares in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new position in Allstate during the first quarter worth $43,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

ALL stock opened at $205.59 on Monday. The stock has a 50-day moving average price of $206.06 and a two-hundred day moving average price of $201.01. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.70. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The company has a market cap of $54.17 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 0.78 and a beta of 0.38.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the previous year, the business earned $1.61 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts predict 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 was paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 29th. Allstate’s payout ratio is 18.81%.

Wall Street Analyst Weigh In

ALL has been the subject of a number of recent analyst reports. UBS Group lifted their price objective on Allstate from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday. Roth Capital set a $230.00 price objective on Allstate and gave the company a “buy” rating in a research report on Friday, September 26th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research report on Tuesday, August 5th. BMO Capital Markets lifted their price objective on Allstate from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. Finally, Wells Fargo & Company set a $202.00 price objective on Allstate and gave the company an “equal weight” rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $234.50.

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.