Allworth Financial LP Has $1.45 Million Holdings in The Allstate Co. (NYSE:ALL)

Posted by Defense World Staff on Mar 24th, 2023

Allworth Financial LP lessened its stake in The Allstate Co. (NYSE:ALL – Get Rating) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,720 shares of the insurance provider’s stock after selling 745 shares during the quarter. Allworth Financial LP’s holdings in Allstate were worth $1,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Allstate by 1.1% in the third quarter. Vanguard Group Inc. now owns 25,700,343 shares of the insurance provider’s stock valued at $3,200,463,000 after buying an additional 275,168 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Allstate by 1.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,028,442 shares of the insurance provider’s stock worth $626,192,000 after purchasing an additional 49,793 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Allstate by 0.8% in the second quarter. Legal & General Group Plc now owns 2,897,864 shares of the insurance provider’s stock worth $367,253,000 after purchasing an additional 22,466 shares in the last quarter. Boston Partners lifted its position in shares of Allstate by 384.6% in the third quarter. Boston Partners now owns 2,707,454 shares of the insurance provider’s stock worth $337,094,000 after purchasing an additional 2,148,764 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Allstate by 41.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,572,349 shares of the insurance provider’s stock worth $320,333,000 after purchasing an additional 759,114 shares in the last quarter. Institutional investors and hedge funds own 77.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of Allstate in a research report on Thursday, January 19th. They issued a “market perform” rating and a $130.00 price objective on the stock. UBS Group upped their price target on shares of Allstate from $150.00 to $160.00 in a research report on Tuesday, January 10th. StockNews.com assumed coverage on shares of Allstate in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Roth Capital reaffirmed a “buy” rating on shares of Allstate in a research report on Thursday, February 2nd. Finally, Piper Sandler upped their price target on shares of Allstate from $147.00 to $153.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $146.85.

Allstate Price Performance

Shares of ALL opened at $105.58 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.38 and a quick ratio of 0.38. The company’s 50-day moving average is $127.01 and its 200-day moving average is $129.39. The Allstate Co. has a fifty-two week low of $104.32 and a fifty-two week high of $144.46. The firm has a market capitalization of $27.80 billion, a PE ratio of -19.85, a PEG ratio of 2.30 and a beta of 0.59.

Allstate (NYSE:ALL – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The insurance provider reported ($1.36) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.01. Allstate had a negative net margin of 2.55% and a negative return on equity of 1.04%. The business had revenue of $13.55 billion for the quarter, compared to the consensus estimate of $13.45 billion. During the same period in the prior year, the company posted $2.75 earnings per share. Allstate’s revenue was up 6.3% compared to the same quarter last year. Equities analysts forecast that The Allstate Co. will post 6.73 EPS for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Tuesday, February 28th will be paid a $0.89 dividend. The ex-dividend date is Monday, February 27th. This is an increase from Allstate’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 3.37%. Allstate’s dividend payout ratio is -66.92%.

Insider Activity at Allstate

In related news, CFO Jesse E. Merten sold 29,451 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $134.18, for a total value of $3,951,735.18. Following the transaction, the chief financial officer now directly owns 16,668 shares in the company, valued at $2,236,512.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.77% of the stock is currently owned by corporate insiders.

About Allstate

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The Allstate Corp. engages in the property and casualty insurance business and the provision of protection solutions. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property-Liability, and Corporate and Other. The Allstate Protection segment offers private passenger auto, homeowners, other personal lines, and commercial insurance marketed under the Allstate, National General, and Answer Financial brand names.