Institute for Wealth Management LLC. Decreases Stock Holdings in The Allstate Co. (NYSE:ALL)

Institute for Wealth Management LLC. reduced its stake in shares of The Allstate Co. (NYSE:ALL) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,823 shares of the insurance provider’s stock after selling 62 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Allstate were worth $544,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ALL. NewEdge Advisors LLC lifted its stake in shares of Allstate by 29.3% during the 2nd quarter. NewEdge Advisors LLC now owns 18,516 shares of the insurance provider’s stock worth $2,956,000 after purchasing an additional 4,192 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Allstate by 8.7% during the 2nd quarter. Truist Financial Corp now owns 147,163 shares of the insurance provider’s stock worth $23,496,000 after purchasing an additional 11,721 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Allstate during the 2nd quarter worth $3,256,000. Centaurus Financial Inc. raised its stake in Allstate by 43.0% in the second quarter. Centaurus Financial Inc. now owns 841 shares of the insurance provider’s stock valued at $134,000 after buying an additional 253 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in Allstate by 1.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 18,126 shares of the insurance provider’s stock valued at $3,438,000 after buying an additional 296 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Down 0.6 %

Allstate stock opened at $192.60 on Friday. The firm has a market cap of $51.00 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.45 and a beta of 0.52. The Allstate Co. has a 52 week low of $153.42 and a 52 week high of $209.88. The business’s 50-day moving average price is $194.15 and its 200 day moving average price is $188.14. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. Allstate’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. As a group, sell-side analysts anticipate that The Allstate Co. will post 16.96 earnings per share for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Friday, November 29th. Allstate’s dividend payout ratio (DPR) is 23.83%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ALL. Raymond James increased their price target on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Friday, October 4th. Wells Fargo & Company increased their price target on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Morgan Stanley increased their price target on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Barclays decreased their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Finally, Jefferies Financial Group increased their price target on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.13.

About Allstate

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.