The Allstate Co. (NYSE:ALL) Shares Acquired by Sheets Smith Wealth Management

Sheets Smith Wealth Management boosted its position in The Allstate Co. (NYSE:ALL) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,941 shares of the insurance provider’s stock after buying an additional 124 shares during the period. Sheets Smith Wealth Management’s holdings in Allstate were worth $760,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its holdings in Allstate by 18,472.5% in 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 in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after buying an additional 472,040 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Allstate by 181.6% during the 2nd 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 during the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Allstate in the third quarter worth approximately $77,819,000. Finally, Los Angeles Capital Management LLC grew its holdings in Allstate by 688.4% in the third quarter. Los Angeles Capital Management LLC now owns 460,282 shares of the insurance provider’s stock valued at $87,292,000 after purchasing an additional 401,901 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Jefferies Financial Group raised their target price on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Morgan Stanley lifted their target price on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Bank of America lifted their price target on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. BMO Capital Markets raised their target price on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Barclays lowered their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $218.13.

Allstate Stock Up 0.5 %

Shares of Allstate stock opened at $189.92 on Wednesday. The Allstate Co. has a 12-month low of $153.42 and a 12-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 firm has a market capitalization of $50.29 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52. The stock’s fifty day moving average is $195.55 and its 200-day moving average is $186.90.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The company had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. Equities analysts anticipate that The Allstate Co. will post 16.45 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, November 29th. Allstate’s payout ratio is 23.83%.

Allstate Company 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.