KMG Fiduciary Partners LLC Raises Stock Holdings in The Allstate Co. (NYSE:ALL)

KMG Fiduciary Partners LLC boosted its stake in The Allstate Co. (NYSE:ALL) by 5.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,434 shares of the insurance provider’s stock after buying an additional 918 shares during the period. KMG Fiduciary Partners LLC’s holdings in Allstate were worth $3,361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp raised its holdings in Allstate by 1.1% in the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock valued at $2,190,758,000 after buying an additional 126,922 shares during the period. Geode Capital Management LLC raised its holdings in Allstate by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock valued at $1,178,164,000 after buying an additional 74,537 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Allstate by 18.7% in 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 period. Raymond James & Associates raised its holdings in Allstate by 10.6% in the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock valued at $287,851,000 after buying an additional 145,986 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Allstate by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock valued at $229,545,000 after acquiring an additional 47,038 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on ALL shares. UBS Group boosted their price target on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group boosted their price target on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group boosted their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Piper Sandler boosted their price target on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company boosted their price target on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $218.13.

Allstate Stock Performance

Shares of Allstate stock opened at $191.24 on Friday. The firm has a market capitalization of $50.64 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.35 and a beta of 0.52. The Allstate Co. has a 52 week low of $150.17 and a 52 week 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’s 50 day moving average is $195.87 and its two-hundred day moving average is $186.08.

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

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, November 29th. Allstate’s payout ratio is currently 23.83%.

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.