SRB Corp Grows Stake in Allstate Corp (NYSE:ALL)

SRB Corp lifted its position in Allstate Corp (NYSE:ALL) by 19.6% during the first quarter, Holdings Channel reports. The institutional investor owned 7,671 shares of the insurance provider’s stock after purchasing an additional 1,257 shares during the period. SRB Corp’s holdings in Allstate were worth $723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in ALL. Oregon Public Employees Retirement Fund boosted its stake in shares of Allstate by 8,063.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,165,142 shares of the insurance provider’s stock worth $38,000 after buying an additional 3,126,372 shares during the last quarter. Norges Bank purchased a new position in shares of Allstate in the 4th quarter worth $189,048,000. Boston Partners boosted its stake in shares of Allstate by 17.1% in the 1st quarter. Boston Partners now owns 11,106,016 shares of the insurance provider’s stock worth $1,045,965,000 after buying an additional 1,620,871 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Allstate by 38.2% in the 4th quarter. California Public Employees Retirement System now owns 2,123,049 shares of the insurance provider’s stock worth $175,428,000 after buying an additional 586,566 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of Allstate by 6.3% in the 4th quarter. Macquarie Group Ltd. now owns 7,852,608 shares of the insurance provider’s stock worth $648,861,000 after buying an additional 468,725 shares during the last quarter. Hedge funds and other institutional investors own 77.46% of the company’s stock.

Allstate stock traded up $0.58 during trading on Thursday, reaching $101.19. The company had a trading volume of 26,146 shares, compared to its average volume of 1,602,611. Allstate Corp has a 52 week low of $77.00 and a 52 week high of $102.73. The stock has a market cap of $33.50 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.34 and a beta of 0.81. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.29 and a current ratio of 0.29.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, May 1st. The insurance provider reported $2.30 EPS for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.02. Allstate had a return on equity of 12.66% and a net margin of 6.26%. The company had revenue of $8.70 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same period last year, the firm earned $2.96 EPS. Allstate’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts predict that Allstate Corp will post 8.99 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, May 31st will be issued a $0.50 dividend. The ex-dividend date is Thursday, May 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.98%. Allstate’s dividend payout ratio is currently 24.78%.

A number of equities analysts have recently issued reports on ALL shares. Goldman Sachs Group upgraded Allstate from a “neutral” rating to a “buy” rating and raised their price target for the stock from $106.00 to $110.00 in a research note on Wednesday, May 29th. Morgan Stanley raised their price target on Allstate from $94.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 21st. Zacks Investment Research cut Allstate from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Wells Fargo & Co reaffirmed a “hold” rating and issued a $94.00 target price on shares of Allstate in a report on Tuesday, March 12th. Finally, UBS Group raised their target price on Allstate from $102.00 to $106.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $102.42.

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About Allstate

The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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