Confluence Wealth Services Inc. Has $1.47 Million Stock Position in The Allstate Co. (NYSE:ALL)

Confluence Wealth Services Inc. raised its holdings in shares of The Allstate Co. (NYSE:ALL) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,946 shares of the insurance provider’s stock after buying an additional 419 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Allstate were worth $1,467,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Allstate by 38.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,632 shares of the insurance provider’s stock valued at $4,385,000 after purchasing an additional 6,235 shares during the period. Y.D. More Investments Ltd lifted its stake in shares of Allstate by 125.3% in the fourth quarter. Y.D. More Investments Ltd now owns 329 shares of the insurance provider’s stock valued at $63,000 after buying an additional 183 shares during the period. Groesbeck Investment Management Corp NJ acquired a new stake in Allstate during the fourth quarter worth about $293,000. Mather Group LLC. increased its stake in Allstate by 1.7% during the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock valued at $697,000 after acquiring an additional 62 shares during the period. Finally, Longboard Asset Management LP acquired a new position in Allstate in the 4th quarter valued at approximately $251,000. 76.47% of the stock is owned by institutional investors.

Allstate Stock Down 0.5 %

Shares of NYSE:ALL opened at $190.93 on Wednesday. The Allstate Co. has a 12 month low of $153.87 and a 12 month high of $209.88. The firm has a market cap of $50.56 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.47 and a beta of 0.52. 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 50-day moving average price is $193.38 and its two-hundred day moving average price is $188.81.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Friday, November 29th. Allstate’s dividend payout ratio is currently 23.83%.

Wall Street Analyst Weigh In

ALL has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Bank of America increased their price objective on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Piper Sandler lifted their target price on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Morgan Stanley increased their price target on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Barclays decreased their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $218.13.

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.