Ascent Group LLC Grows Stake in The Allstate Co. (NYSE:ALL)

Ascent Group LLC boosted its holdings in shares of The Allstate Co. (NYSE:ALL) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,843 shares of the insurance provider’s stock after purchasing an additional 69 shares during the quarter. Ascent Group LLC’s holdings in Allstate were worth $918,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ALL. Pathway Financial Advisers LLC raised its position in shares of Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after buying an additional 1,047,019 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after acquiring an additional 472,040 shares in the last quarter. AQR Capital Management LLC grew its stake in Allstate by 181.6% during the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock valued at $114,955,000 after acquiring an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in Allstate in the 3rd quarter valued at $77,819,000. Finally, Acadian Asset Management LLC lifted its stake in Allstate by 3,839.0% in the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock worth $66,417,000 after purchasing an additional 405,553 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ALL. TD Cowen lifted their target price on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price objective on shares of Allstate in a report on Wednesday, August 14th. Bank of America boosted their price target on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $217.19.

Insider Activity at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

Allstate Stock Performance

ALL stock opened at $203.40 on Wednesday. The firm has a market cap of $53.86 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.80 and a beta of 0.50. The Allstate Co. has a twelve month low of $134.17 and a twelve month 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 business’s fifty day simple moving average is $193.48 and its two-hundred day simple moving average is $179.68.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 EPS. Analysts predict that The Allstate Co. will post 16.26 earnings per share for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.81%. Allstate’s dividend payout ratio is currently 23.83%.

Allstate 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.