First Trust Advisors LP Has $462.98 Million Stock Holdings in The Allstate Corporation $ALL

First Trust Advisors LP raised its holdings in The Allstate Corporation (NYSE:ALL) by 30.6% during the first quarter, Holdings Channel reports. The institutional investor owned 2,232,938 shares of the insurance provider’s stock after buying an additional 522,785 shares during the quarter. First Trust Advisors LP’s holdings in Allstate were worth $462,977,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CacheTech Inc. boosted its stake in Allstate by 25.4% during the 1st quarter. CacheTech Inc. now owns 2,081 shares of the insurance provider’s stock valued at $431,000 after purchasing an additional 421 shares during the last quarter. ABN Amro Investment Solutions increased its holdings in Allstate by 10.9% during the 1st quarter. ABN Amro Investment Solutions now owns 13,274 shares of the insurance provider’s stock worth $2,752,000 after purchasing an additional 1,310 shares in the last quarter. Triad Investment Management purchased a new stake in shares of Allstate in the first quarter worth approximately $414,000. Oslo Pensjonsforsikring AS purchased a new stake in shares of Allstate in the first quarter worth approximately $32,519,000. Finally, Andra AP fonden lifted its holdings in shares of Allstate by 26.6% in the first quarter. Andra AP fonden now owns 31,399 shares of the insurance provider’s stock valued at $6,510,000 after purchasing an additional 6,598 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director owned 2,225 shares of the company’s stock, valued at $451,474.75. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,353 shares of company stock valued at $4,851,560 in the last ninety days. 1.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on ALL shares. Keefe, Bruyette & Woods lifted their target price on Allstate from $242.00 to $255.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. raised their price objective on Allstate from $263.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Morgan Stanley lifted their price objective on shares of Allstate from $215.00 to $240.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company upped their target price on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.80.

Allstate Price Performance

Shares of NYSE ALL opened at $251.64 on Wednesday. The company has a market capitalization of $64.78 billion, a PE ratio of 5.55, a PEG ratio of 0.44 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average price is $228.81 and its 200-day moving average price is $215.02. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $257.67.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted $3.53 earnings per share. On average, equities analysts anticipate that The Allstate Corporation will post 30.51 EPS for the current year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio is 9.53%.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.