Affinity Investment Advisors LLC cut its position in shares of Allstate Corp (NYSE:ALL) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,690 shares of the insurance provider’s stock after selling 2,850 shares during the period. Affinity Investment Advisors LLC’s holdings in Allstate were worth $2,701,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its stake in shares of Allstate by 16.3% in the second quarter. Advisors Asset Management Inc. now owns 11,202 shares of the insurance provider’s stock worth $1,022,000 after buying an additional 1,567 shares in the last quarter. FMR LLC raised its stake in Allstate by 24.7% during the second quarter. FMR LLC now owns 4,096,814 shares of the insurance provider’s stock worth $373,917,000 after purchasing an additional 811,694 shares during the period. Atria Investments LLC raised its stake in Allstate by 24.3% during the third quarter. Atria Investments LLC now owns 2,938 shares of the insurance provider’s stock worth $290,000 after purchasing an additional 574 shares during the period. First Hawaiian Bank purchased a new position in Allstate during the third quarter worth about $2,345,000. Finally, Independence Bank of Kentucky raised its stake in Allstate by 14.4% during the third quarter. Independence Bank of Kentucky now owns 5,171 shares of the insurance provider’s stock worth $510,000 after purchasing an additional 651 shares during the period. Institutional investors and hedge funds own 78.05% of the company’s stock.
A number of equities analysts have commented on ALL shares. Zacks Investment Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 18th. Edward Jones raised shares of Allstate from a “sell” rating to a “hold” rating in a research note on Tuesday, December 11th. Bank of America reduced their target price on shares of Allstate from $113.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Wells Fargo & Co set a $100.00 target price on shares of Allstate and gave the stock a “hold” rating in a research note on Wednesday, October 31st. Finally, Credit Suisse Group set a $112.00 target price on shares of Allstate and gave the stock a “buy” rating in a research note on Wednesday, November 14th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $101.27.
Shares of ALL opened at $92.53 on Tuesday. Allstate Corp has a 1-year low of $77.00 and a 1-year high of $102.73. The stock has a market cap of $31.85 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 1.20 and a beta of 0.82. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 0.33.
Allstate (NYSE:ALL) last announced its quarterly earnings results on Tuesday, February 5th. The insurance provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.23. Allstate had a net margin of 5.66% and a return on equity of 14.00%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.66 billion. During the same period last year, the business earned $2.09 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts predict that Allstate Corp will post 9.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Thursday, February 28th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, February 27th. This is a boost from Allstate’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.16%. Allstate’s dividend payout ratio (DPR) is currently 22.80%.
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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