Franklin Resources Inc. Raises Stock Position in The Allstate Co. (NYSE:ALL)

Franklin Resources Inc. increased its position in shares of The Allstate Co. (NYSE:ALL - Free Report) by 5.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,632 shares of the insurance provider's stock after buying an additional 6,616 shares during the period. Franklin Resources Inc. owned 0.05% of Allstate worth $26,032,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. &PARTNERS acquired a new position in Allstate during the 2nd quarter worth approximately $474,000. Premier Path Wealth Partners LLC raised its holdings in Allstate by 2.5% during the second quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider's stock worth $392,000 after buying an additional 61 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of Allstate by 0.5% in the second quarter. Retirement Systems of Alabama now owns 58,216 shares of the insurance provider's stock valued at $9,295,000 after buying an additional 279 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Allstate in the 2nd quarter worth about $38,000. Finally, LRI Investments LLC lifted its position in Allstate by 399,800.0% in the 2nd quarter. LRI Investments LLC now owns 3,999 shares of the insurance provider's stock valued at $638,000 after acquiring an additional 3,998 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ALL. Bank of America raised their target price on Allstate from $216.00 to $233.00 and gave the company a "buy" rating in a report on Friday, October 18th. Morgan Stanley lifted their price objective on shares of Allstate from $220.00 to $228.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their price target on shares of Allstate from $209.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, November 15th. TD Cowen upped their price objective on shares of Allstate from $193.00 to $224.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Allstate from $205.00 to $207.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $217.19.

Allstate Stock Performance

ALL traded up $3.77 during trading hours on Friday, hitting $193.56. The stock had a trading volume of 2,351,391 shares, compared to its average volume of 1,551,107. The stock has a market cap of $51.26 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50. The Allstate Co. has a 1 year low of $134.17 and a 1 year high of $209.88. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The company's fifty day simple moving average is $195.61 and its 200 day simple moving average is $182.04.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company's quarterly revenue was up 14.7% compared to the same quarter last year. Equities analysts anticipate that The Allstate Co. will post 16.26 earnings per share for the current year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, November 29th. Allstate's dividend payout ratio (DPR) is presently 23.83%.

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.