Novem Group Buys 170 Shares of The Allstate Corporation $ALL

Novem Group boosted its stake in The Allstate Corporation (NYSE:ALL) by 0.8% during the second quarter, Holdings Channel.com reports. The firm owned 21,157 shares of the insurance provider’s stock after buying an additional 170 shares during the period. Novem Group’s holdings in Allstate were worth $4,259,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Allstate by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider’s stock valued at $6,791,914,000 after buying an additional 164,662 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Allstate by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,709,610 shares of the insurance provider’s stock valued at $2,424,710,000 after acquiring an additional 2,374,684 shares during the period. GQG Partners LLC raised its stake in shares of Allstate by 2.1% during the first quarter. GQG Partners LLC now owns 4,405,701 shares of the insurance provider’s stock valued at $912,288,000 after acquiring an additional 89,185 shares during the last quarter. Boston Partners boosted its holdings in shares of Allstate by 613.9% during the first quarter. Boston Partners now owns 2,482,654 shares of the insurance provider’s stock worth $512,627,000 after purchasing an additional 2,134,893 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Allstate by 27.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,328,070 shares of the insurance provider’s stock valued at $482,073,000 after purchasing an additional 497,982 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Up 0.3%

ALL stock opened at $209.97 on Friday. The business has a 50 day moving average of $202.75 and a 200 day moving average of $200.75. The firm has a market cap of $55.33 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 0.83 and a beta of 0.37. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $214.76. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $2.74. The firm had revenue of $15.05 billion for the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.61 earnings per share. On average, research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 1.9%. Allstate’s payout ratio is 18.81%.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of research analyst reports. Wells Fargo & Company set a $202.00 price target on Allstate and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. Barclays reaffirmed an “underweight” rating and set a $198.00 target price (up previously from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Citigroup raised shares of Allstate to a “hold” rating in a research note on Wednesday, August 13th. Cantor Fitzgerald upgraded shares of Allstate to a “hold” rating in a report on Wednesday, August 13th. Finally, Wolfe Research upgraded Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.47.

About Allstate

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.