Rehmann Capital Advisory Group Grows Holdings in The Allstate Co. (NYSE:ALL)

Rehmann Capital Advisory Group increased its stake in The Allstate Co. (NYSE:ALL) by 6.4% in the third quarter, Holdings Channel reports. The institutional investor owned 1,582 shares of the insurance provider’s stock after acquiring an additional 95 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Allstate were worth $300,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in Allstate during the 3rd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate during the 3rd quarter valued at approximately $28,000. Catalyst Capital Advisors LLC bought a new position in Allstate during the third quarter worth $29,000. Family Firm Inc. acquired a new position in Allstate in the second quarter worth $38,000. Finally, MCF Advisors LLC increased its stake in Allstate by 33.9% during the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Trading Up 2.1 %

Shares of NYSE:ALL opened at $196.25 on Friday. The company has a 50 day moving average of $194.95 and a 200-day moving average of $181.30. 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 firm has a market cap of $51.97 billion, a P/E ratio of 12.71, a P/E/G ratio of 1.70 and a beta of 0.50. The Allstate Co. has a twelve month low of $134.17 and a twelve month high of $209.88.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping the consensus estimate 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 return on equity of 26.67% and a net margin of 6.77%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 earnings per share. As a group, analysts anticipate that The Allstate Co. will post 16.26 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.88%. Allstate’s dividend payout ratio is currently 23.83%.

Insider Buying and Selling

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ALL has been the topic of a number of recent research reports. Piper Sandler raised their price target on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Barclays lifted their target price on Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods increased their price target on Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. BMO Capital Markets boosted their price objective on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Raymond James increased their target price on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.19.

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.