Fifth Third Wealth Advisors LLC Cuts Holdings in The Allstate Co. (NYSE:ALL)

Fifth Third Wealth Advisors LLC reduced its position in shares of The Allstate Co. (NYSE:ALL) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 5,600 shares of the insurance provider’s stock after selling 74 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Allstate were worth $1,080,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in Allstate by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock worth $109,605,000 after purchasing an additional 28,584 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Allstate by 38.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock worth $2,067,000 after buying an additional 2,888 shares during the period. Bank of Montreal Can lifted its position in shares of Allstate by 1.7% during the 3rd quarter. Bank of Montreal Can now owns 683,574 shares of the insurance provider’s stock valued at $128,758,000 after buying an additional 11,195 shares in the last quarter. Blueshift Asset Management LLC acquired a new stake in Allstate in the 3rd quarter valued at $623,000. Finally, International Assets Investment Management LLC purchased a new stake in Allstate in the 4th quarter worth $14,518,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on ALL. BMO Capital Markets increased their price objective on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. UBS Group boosted their price objective on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their price target on Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Jefferies Financial Group raised their price objective on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $218.13.

Allstate Stock Up 0.6 %

Shares of NYSE ALL opened at $188.01 on Thursday. The company has a market capitalization of $49.79 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.70 and a beta of 0.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The company has a 50 day simple moving average of $195.89 and a 200-day simple moving average of $186.07. The Allstate Co. has a 1 year low of $150.17 and a 1 year high of $209.88.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping 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 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 last year, the firm earned $0.81 earnings per share. On average, equities research analysts predict that The Allstate Co. will post 16.26 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently announced 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. This represents a $3.68 annualized dividend and a yield of 1.96%. The ex-dividend date was Friday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 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.