The Allstate Corporation $ALL Holdings Decreased by Royal Bank of Canada

Royal Bank of Canada lowered its stake in The Allstate Corporation (NYSE:ALL) by 15.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 580,531 shares of the insurance provider’s stock after selling 105,884 shares during the quarter. Royal Bank of Canada’s holdings in Allstate were worth $120,368,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ALL. Norges Bank bought a new stake in shares of Allstate during the 4th quarter worth about $531,294,000. GQG Partners LLC boosted its holdings in shares of Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after acquiring an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Allstate by 29.2% during the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after acquiring an additional 1,131,172 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Allstate by 1,766.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after acquiring an additional 822,583 shares during the period. Finally, Woodline Partners LP bought a new stake in Allstate during the third quarter worth approximately $148,641,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ALL. Keefe, Bruyette & Woods upped their target price on Allstate from $242.00 to $255.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Wells Fargo & Company raised their target price on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Finally, Morgan Stanley boosted their price target on shares of Allstate from $215.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average target price of $254.80.

Allstate Price Performance

ALL stock opened at $265.22 on Friday. The Allstate Corporation has a one year low of $188.08 and a one year high of $277.22. The firm has a 50-day moving average of $234.98 and a two-hundred day moving average of $217.73. The firm has a market capitalization of $68.27 billion, a PE ratio of 5.85, a P/E/G ratio of 0.47 and a beta of 0.16. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period last year, the firm posted $3.53 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that The Allstate Corporation will post 30.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a yield of 1.6%. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Insider Buying and Selling

In other Allstate news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.55% of the company’s stock.

Allstate 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.