Davis Capital Management Sells 454 Shares of The Allstate Co. (NYSE:ALL)

Davis Capital Management trimmed its stake in shares of The Allstate Co. (NYSE:ALL) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,161 shares of the insurance provider’s stock after selling 454 shares during the period. Allstate comprises about 1.9% of Davis Capital Management’s portfolio, making the stock its 9th largest position. Davis Capital Management’s holdings in Allstate were worth $2,345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. XML Financial LLC acquired a new stake in shares of Allstate during the fourth quarter worth $272,000. Nisa Investment Advisors LLC increased its stake in Allstate by 96.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 170,437 shares of the insurance provider’s stock valued at $33,015,000 after buying an additional 83,648 shares during the last quarter. Simon Quick Advisors LLC increased its stake in Allstate by 61.9% in the 4th quarter. Simon Quick Advisors LLC now owns 3,191 shares of the insurance provider’s stock valued at $615,000 after buying an additional 1,220 shares during the last quarter. Sheets Smith Wealth Management increased its stake in Allstate by 3.2% in the 4th quarter. Sheets Smith Wealth Management now owns 3,941 shares of the insurance provider’s stock valued at $760,000 after buying an additional 124 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its stake in Allstate by 10.5% in the 4th quarter. Atomi Financial Group Inc. now owns 2,746 shares of the insurance provider’s stock valued at $529,000 after buying an additional 261 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALL. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. BMO Capital Markets boosted their price objective on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Piper Sandler boosted their price objective 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. Bank of America boosted their price objective on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, one has assigned 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.13.

Allstate Stock Performance

NYSE ALL opened at $189.92 on Wednesday. The firm has a 50-day moving average price of $195.55 and a two-hundred day moving average price of $186.90. The company has a market capitalization of $50.29 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.42 and a beta of 0.52. 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 Allstate Co. has a 12-month low of $153.42 and a 12-month high of $209.88.

Allstate (NYSE:ALL) last issued its 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 during 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 EPS. Analysts anticipate that The Allstate Co. will post 16.45 earnings per share for the current year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, November 29th. Allstate’s payout ratio is presently 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.