Franklin Resources Inc. Has $940.14 Million Stock Position in The Allstate Corporation $ALL

Franklin Resources Inc. lifted its stake in The Allstate Corporation (NYSE:ALL) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,670,113 shares of the insurance provider’s stock after buying an additional 112,858 shares during the period. Franklin Resources Inc.’s holdings in Allstate were worth $940,140,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after acquiring an additional 2,443 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of Allstate during the 4th quarter worth about $231,000. IFP Advisors Inc lifted its holdings in Allstate by 15.4% during the 1st quarter. IFP Advisors Inc now owns 1,032 shares of the insurance provider’s stock valued at $214,000 after purchasing an additional 138 shares during the last quarter. Crestwood Advisors Group LLC boosted its position in Allstate by 23.1% in the first quarter. Crestwood Advisors Group LLC now owns 1,514 shares of the insurance provider’s stock valued at $314,000 after buying an additional 284 shares in the last quarter. Finally, Choreo LLC grew its stake in Allstate by 3.9% during the first quarter. Choreo LLC now owns 6,726 shares of the insurance provider’s stock worth $1,399,000 after buying an additional 253 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Transactions at Allstate

In other news, insider Suren Gupta sold 1,400 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $215.02, for a total transaction of $301,028.00. Following the completion of the transaction, the insider directly owned 101,031 shares in the company, valued at approximately $21,723,685.62. The trade was a 1.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ALL shares. UBS Group increased their price target on Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. raised their target price on Allstate from $254.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $246.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Cantor Fitzgerald upgraded shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Finally, Barclays reissued an “underweight” rating and issued a $198.00 price target (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $237.64.

Allstate Trading Up 0.9%

ALL opened at $211.87 on Friday. The firm has a 50 day simple moving average of $203.11 and a 200 day simple moving average of $201.98. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.70. The company has a market cap of $55.44 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. The firm had revenue of $17.26 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.91 EPS. On average, sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a dividend of $1.00 per share. The ex-dividend date is Monday, December 1st. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Allstate’s dividend payout ratio (DPR) is 12.95%.

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.