The Allstate Co. (NYSE:ALL) Holdings Lifted by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC increased its holdings in shares of The Allstate Co. (NYSE:ALL) by 205.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,953 shares of the insurance provider’s stock after purchasing an additional 10,058 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Allstate were worth $2,883,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Allstate by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider’s stock valued at $6,291,783,000 after buying an additional 389,426 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Allstate by 2.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider’s stock valued at $1,799,681,000 after purchasing an additional 218,771 shares during the last quarter. Bank of America Corp DE boosted its position in Allstate by 157.9% during the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock valued at $1,270,705,000 after purchasing an additional 4,035,629 shares during the last quarter. Geode Capital Management LLC boosted its position in Allstate by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider’s stock valued at $1,236,060,000 after purchasing an additional 191,147 shares during the last quarter. Finally, GQG Partners LLC boosted its position in Allstate by 64.1% during the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock valued at $832,181,000 after purchasing an additional 1,685,694 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

NYSE ALL opened at $209.90 on Tuesday. The Allstate Co. has a twelve month low of $156.66 and a twelve month high of $212.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The stock has a market capitalization of $55.59 billion, a PE ratio of 12.35, a P/E/G ratio of 1.01 and a beta of 0.32. The stock has a 50-day simple moving average of $199.70 and a 200 day simple moving average of $195.93.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a return on equity of 28.20% and a net margin of 7.28%. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same period in the prior year, the firm posted $5.13 EPS. Allstate’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a $1.00 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 1.91%. Allstate’s dividend payout ratio is 27.32%.

Allstate declared that its board has approved a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ALL shares. Keefe, Bruyette & Woods lifted their price objective on Allstate from $228.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Barclays decreased their price target on Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a research note on Friday, April 11th. Wells Fargo & Company decreased their price target on Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. BMO Capital Markets reiterated an “outperform” rating on shares of Allstate in a research note on Friday. Finally, Evercore ISI upped their price target on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus price target of $225.20.

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.