The Allstate Co. (NYSE:ALL) Holdings Reduced by SteelPeak Wealth LLC

SteelPeak Wealth LLC lessened its holdings in shares of The Allstate Co. (NYSE:ALL) by 28.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,430 shares of the insurance provider’s stock after selling 562 shares during the period. SteelPeak Wealth LLC’s holdings in Allstate were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp lifted its position in Allstate by 1.1% in the third quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after purchasing an additional 126,922 shares during the period. Geode Capital Management LLC boosted its stake in Allstate by 1.2% during the third 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 in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after acquiring an additional 472,040 shares during the period. Raymond James & Associates raised its position in Allstate by 10.6% in the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock worth $287,851,000 after acquiring an additional 145,986 shares in the last quarter. Finally, Pathway Financial Advisers LLC boosted its position in shares of Allstate by 18,472.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after purchasing an additional 1,047,019 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Piper Sandler raised their target price on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. raised their price objective on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, UBS Group boosted their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has assigned 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 currently has an average rating of “Moderate Buy” and a consensus price target of $218.13.

Allstate Price Performance

Shares of NYSE:ALL opened at $193.80 on Friday. The business has a 50 day moving average price of $194.33 and a 200 day moving average price of $188.10. The company has a market cap of $51.32 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.41 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 twelve month low of $153.42 and a twelve month high of $209.88.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the company posted $0.81 earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. Research analysts predict that The Allstate Co. will post 16.83 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were paid a dividend of $0.92 per share. The ex-dividend date was Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a yield of 1.90%. Allstate’s dividend 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.