Marcum Wealth LLC lessened its stake in shares of The Allstate Co. (NYSE:ALL – Free Report) by 10.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,822 shares of the insurance provider’s stock after selling 213 shares during the quarter. Marcum Wealth LLC’s holdings in Allstate were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. Sequoia Financial Advisors LLC boosted its position in Allstate by 38.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,965 shares of the insurance provider’s stock worth $673,000 after acquiring an additional 1,383 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Allstate by 3.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 53,481 shares of the insurance provider’s stock worth $7,252,000 after buying an additional 2,023 shares during the period. Handelsbanken Fonder AB boosted its stake in Allstate by 4.0% in the 4th quarter. Handelsbanken Fonder AB now owns 82,659 shares of the insurance provider’s stock worth $11,209,000 after buying an additional 3,178 shares during the last quarter. Versor Investments LP acquired a new position in shares of Allstate during the 4th quarter valued at about $481,000. Finally, abrdn plc boosted its position in shares of Allstate by 7.2% in the fourth quarter. abrdn plc now owns 70,780 shares of the insurance provider’s stock worth $9,598,000 after acquiring an additional 4,727 shares during the last quarter. 75.44% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
ALL has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on shares of Allstate from $144.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 4th. William Blair raised Allstate from a “market perform” rating to an “outperform” rating in a research report on Monday, April 3rd. Citigroup lowered their price target on Allstate from $150.00 to $138.00 in a research report on Tuesday, April 18th. Bank of America reduced their price objective on Allstate from $149.00 to $136.00 in a research note on Friday, June 16th. Finally, Morgan Stanley assumed coverage on shares of Allstate in a report on Tuesday, June 20th. They issued an “equal weight” rating and a $117.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Allstate currently has an average rating of “Hold” and a consensus target price of $138.38.
Allstate Stock Performance
Allstate (NYSE:ALL – Free Report) last announced its quarterly earnings data on Thursday, May 4th. The insurance provider reported ($1.30) earnings per share for the quarter, topping the consensus estimate of ($1.94) by $0.64. The company had revenue of $13.79 billion during the quarter, compared to analyst estimates of $13.68 billion. Allstate had a negative net margin of 4.33% and a negative return on equity of 7.77%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the business earned $2.58 EPS. Analysts forecast that The Allstate Co. will post 1.61 EPS for the current fiscal year.
Allstate Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 2nd will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $3.56 annualized dividend and a dividend yield of 3.26%. Allstate’s payout ratio is -40.14%.
About Allstate
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.
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