Victory Capital Management Inc. Acquires 48,495 Shares of The Allstate Corporation (NYSE:ALL)

Victory Capital Management Inc. lifted its holdings in shares of The Allstate Corporation (NYSE:ALL) by 13.1% in the first quarter, HoldingsChannel.com reports. The firm owned 418,744 shares of the insurance provider’s stock after acquiring an additional 48,495 shares during the quarter. Victory Capital Management Inc.’s holdings in Allstate were worth $86,709,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC bought a new position in shares of Allstate in the fourth quarter worth about $25,000. Twin Tree Management LP acquired a new stake in shares of Allstate in the 4th quarter valued at $27,000. Hughes Financial Services LLC acquired a new stake in Allstate in the first quarter valued at $28,000. Kapitalo Investimentos Ltda bought a new position in shares of Allstate during the 4th quarter worth about $29,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Allstate during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Allstate in a research report on Friday, May 16th. Evercore ISI raised their price target on Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price target on Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a research note on Tuesday, April 8th. William Blair began coverage on Allstate in a report on Friday, June 6th. They issued a “sector outperform” rating on the stock. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $250.00 price objective (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.07.

Allstate Price Performance

NYSE:ALL opened at $193.15 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $51.15 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.01 and a beta of 0.33. The Allstate Corporation has a 52 week low of $162.27 and a 52 week high of $213.18. The company has a 50-day moving average of $200.35 and a 200-day moving average of $196.66.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. Allstate’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $5.13 earnings per share. As a group, equities research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, August 29th. Allstate’s dividend payout ratio is currently 27.32%.

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.