Grove Bank & Trust Raises Stake in The Allstate Co. (NYSE:ALL)

Grove Bank & Trust raised its position in shares of The Allstate Co. (NYSE:ALL) by 88.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 755 shares of the insurance provider’s stock after purchasing an additional 355 shares during the quarter. Grove Bank & Trust’s holdings in Allstate were worth $146,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. SPC Financial Inc. lifted its holdings in Allstate by 3.6% during the third quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 54 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in Allstate by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after purchasing an additional 54 shares in the last quarter. Abacus Planning Group Inc. lifted its holdings in Allstate by 2.4% during the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock valued at $458,000 after purchasing an additional 56 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Allstate by 1.3% during the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock valued at $893,000 after purchasing an additional 59 shares in the last quarter. Finally, Carmichael Hill & Associates Inc. lifted its holdings in shares of Allstate by 15.0% in the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock worth $87,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 1.2 %

NYSE ALL opened at $188.85 on Tuesday. The company’s 50-day moving average price is $195.73 and its 200-day moving average price is $186.69. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The stock has a market cap of $50.01 billion, a PE ratio of 12.23, a PEG ratio of 1.35 and a beta of 0.52. The Allstate Co. has a 12 month low of $150.17 and a 12 month high of $209.88.

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

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.95%. The ex-dividend date was Friday, November 29th. Allstate’s payout ratio is 23.83%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. BMO Capital Markets boosted 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. UBS Group boosted their target price on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Barclays lowered their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. Finally, Raymond James boosted their target price on shares of Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $218.13.

Allstate 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.