IVC Wealth Advisors LLC Sells 408 Shares of The Allstate Co. (NYSE:ALL)

IVC Wealth Advisors LLC lessened its stake in The Allstate Co. (NYSE:ALL) by 4.1% during the fourth quarter, Holdings Channel reports. The firm owned 9,541 shares of the insurance provider’s stock after selling 408 shares during the period. Allstate makes up approximately 1.0% of IVC Wealth Advisors LLC’s portfolio, making the stock its 18th largest position. IVC Wealth Advisors LLC’s holdings in Allstate were worth $1,839,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. State Street Corp boosted its holdings in Allstate by 1.1% during the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after acquiring an additional 126,922 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Allstate by 1.2% during the third quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock valued at $1,178,164,000 after purchasing an additional 74,537 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings 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 worth $569,114,000 after purchasing an additional 472,040 shares during the last quarter. Raymond James & Associates grew its position in Allstate by 10.6% in the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock worth $287,851,000 after purchasing an additional 145,986 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its stake in Allstate by 18,472.5% in the 3rd 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. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

Allstate stock opened at $184.63 on Friday. The Allstate Co. has a fifty-two week low of $153.42 and a fifty-two week high of $209.88. The firm’s fifty day moving average price is $195.15 and its 200-day moving average price is $187.10. The stock has a market cap of $48.89 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 1.45 and a beta of 0.52. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion during 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%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. On average, equities research analysts expect that The Allstate Co. will post 16.72 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.99%. The ex-dividend date was Friday, November 29th. Allstate’s dividend payout ratio is presently 23.83%.

Wall Street Analyst Weigh In

ALL has been the subject of a number of research analyst reports. 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 report on Friday, October 4th. Piper Sandler lifted their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. 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 report on Friday, October 18th. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Jefferies Financial Group increased their target price on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.