OFI Invest Asset Management Takes Position in The Allstate Corporation $ALL

OFI Invest Asset Management acquired a new position in The Allstate Corporation (NYSE:ALL) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 110,853 shares of the insurance provider’s stock, valued at approximately $23,074,000.

Several other large investors have also recently made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Allstate by 0.7% in the 3rd quarter. State Street Corp now owns 11,859,517 shares of the insurance provider’s stock worth $2,557,362,000 after acquiring an additional 85,468 shares during the last quarter. Boston Partners lifted its holdings in shares of Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock worth $654,652,000 after acquiring an additional 395,195 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Allstate by 3.3% in the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after acquiring an additional 88,620 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Allstate by 18.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider’s stock worth $559,435,000 after acquiring an additional 401,700 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Allstate by 6.7% in the 3rd quarter. Legal & General Group Plc now owns 2,011,214 shares of the insurance provider’s stock worth $431,707,000 after acquiring an additional 126,401 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

Allstate stock opened at $212.20 on Thursday. The firm has a market cap of $55.07 billion, a PE ratio of 5.56, a price-to-earnings-growth ratio of 0.42 and a beta of 0.22. The Allstate Corporation has a 52-week low of $180.00 and a 52-week high of $216.75. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $207.17 and its two-hundred day moving average is $205.29.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. The company had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $7.67 EPS. On average, research analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were given a $1.08 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Allstate’s previous quarterly dividend of $1.00. Allstate’s payout ratio is currently 11.31%.

Analyst Ratings Changes

Several brokerages have recently commented on ALL. William Blair lowered shares of Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, February 10th. Evercore set a $225.00 target price on shares of Allstate in a report on Wednesday, January 7th. Raymond James Financial reiterated a “strong-buy” rating and set a $260.00 target price on shares of Allstate in a report on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $238.53.

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.