The Allstate Corporation $ALL Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in The Allstate Corporation (NYSE:ALL) by 29.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,007,549 shares of the insurance provider’s stock after purchasing an additional 1,131,172 shares during the period. Franklin Resources Inc. owned about 1.91% of Allstate worth $1,042,321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp increased its stake 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 valued at $2,557,362,000 after purchasing an additional 85,468 shares in the last quarter. Boston Partners increased its stake 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 valued at $654,652,000 after purchasing an additional 395,195 shares in the last quarter. Raymond James Financial Inc. increased its stake 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 valued at $562,388,000 after purchasing an additional 88,620 shares in the last quarter. Dimensional Fund Advisors LP increased its stake 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 valued at $559,435,000 after purchasing an additional 401,700 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Allstate in the 4th quarter valued at about $531,294,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

ALL has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, March 23rd. The Goldman Sachs Group restated a “neutral” rating and issued a $231.00 price target on shares of Allstate in a research note on Thursday, March 5th. Barclays lifted their price target on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research note on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on Allstate from $260.00 to $266.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average price target of $241.67.

Allstate Trading Down 0.0%

Shares of Allstate stock opened at $220.98 on Monday. The stock has a market cap of $56.88 billion, a P/E ratio of 4.87, a P/E/G ratio of 0.40 and a beta of 0.18. The stock’s 50 day simple moving average is $213.31 and its 200-day simple moving average is $208.65. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last issued 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. The business had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.53 EPS. Analysts predict that The Allstate Corporation will post 29.43 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, June 1st. Allstate’s payout ratio is currently 9.53%.

Insider Transactions at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. The trade was a 18.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 in the last ninety days. 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.