Groesbeck Investment Management Corp NJ Takes Position in The Allstate Co. (NYSE:ALL)

Groesbeck Investment Management Corp NJ bought a new stake in The Allstate Co. (NYSE:ALL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,522 shares of the insurance provider’s stock, valued at approximately $293,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mather Group LLC. grew its position in shares of Allstate by 1.7% in the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock valued at $697,000 after purchasing an additional 62 shares during the last quarter. Longboard Asset Management LP acquired a new stake in Allstate during the fourth quarter worth approximately $251,000. Vantage Point Financial LLC acquired a new stake in Allstate during the fourth quarter worth approximately $278,000. GDS Wealth Management grew its position in Allstate by 3.8% during the fourth quarter. GDS Wealth Management now owns 89,233 shares of the insurance provider’s stock worth $17,203,000 after buying an additional 3,271 shares in the last quarter. Finally, Catalina Capital Group LLC grew its position in Allstate by 15.5% during the fourth quarter. Catalina Capital Group LLC now owns 1,541 shares of the insurance provider’s stock worth $297,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the topic of a number of analyst reports. Barclays reduced their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. increased their price target on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. UBS Group increased their price target on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley raised their target price on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. One investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $218.13.

Allstate Stock Down 0.5 %

Shares of ALL opened at $190.93 on Wednesday. The Allstate Co. has a 52 week low of $153.87 and a 52 week high of $209.88. The stock has a market capitalization of $50.56 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.47 and a beta of 0.52. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a fifty day moving average of $193.72 and a 200-day moving average of $188.69.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, November 29th. Allstate’s dividend payout ratio is currently 23.83%.

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.