SageView Advisory Group LLC Raises Stock Position in The Allstate Co. (NYSE:ALL)

SageView Advisory Group LLC lifted its position in The Allstate Co. (NYSE:ALL) by 43.6% during the first quarter, Holdings Channel reports. The institutional investor owned 4,678 shares of the insurance provider’s stock after buying an additional 1,421 shares during the quarter. SageView Advisory Group LLC’s holdings in Allstate were worth $809,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Allstate during the first quarter valued at $25,000. Rise Advisors LLC acquired a new stake in Allstate during the 1st quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new stake in Allstate during the 1st quarter valued at about $26,000. Private Wealth Management Group LLC acquired a new position in shares of Allstate in the fourth quarter valued at about $25,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Allstate during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALL. Piper Sandler raised their price target on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Morgan Stanley decreased their price objective on Allstate from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. HSBC raised Allstate from a “hold” rating to a “buy” rating and raised their target price for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. JPMorgan Chase & Co. boosted their price target on Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $194.00 price objective on shares of Allstate in a research note on Friday, July 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.06.

Allstate Price Performance

ALL traded down $2.30 on Friday, reaching $174.39. 446,550 shares of the company’s stock were exchanged, compared to its average volume of 1,559,232. The stock has a market cap of $46.03 billion, a PE ratio of 38.64, a P/E/G ratio of 1.95 and a beta of 0.48. The Allstate Co. has a twelve month low of $104.29 and a twelve month high of $179.93. The stock’s fifty day moving average price is $163.68 and its 200-day moving average price is $162.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last posted its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating the consensus estimate of $4.11 by $1.02. The company had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. Allstate’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted ($1.30) EPS. Sell-side analysts expect that The Allstate Co. will post 12.5 EPS for the current year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a $0.92 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 2.11%. Allstate’s payout ratio is 81.24%.

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.