Ritholtz Wealth Management Reduces Stock Position in The Allstate Co. (NYSE:ALL)

Ritholtz Wealth Management reduced its holdings in shares of The Allstate Co. (NYSE:ALL) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,297 shares of the insurance provider’s stock after selling 113 shares during the quarter. Ritholtz Wealth Management’s holdings in Allstate were worth $2,756,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. FSA Wealth Management LLC bought a new position in Allstate during the 3rd quarter valued at $26,000. Northwest Investment Counselors LLC bought a new position in shares of Allstate during the third quarter worth about $28,000. Catalyst Capital Advisors LLC bought a new position in shares of Allstate during the third quarter worth about $29,000. Peoples Bank KS acquired a new position in Allstate in the fourth quarter worth about $49,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in Allstate in the third quarter valued at about $58,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of several research reports. Barclays decreased their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group lifted their price objective on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company increased their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday. 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. Finally, UBS Group boosted their price objective on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $218.13.

Allstate Stock Down 1.2 %

ALL opened at $188.85 on Friday. The stock’s 50 day moving average price is $195.89 and its 200 day moving average price is $186.12. 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 stock has a market cap of $50.01 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.35 and a beta of 0.52. The Allstate Co. has a 12 month low of $150.17 and a 12 month high of $209.88.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The company had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. As a group, research analysts predict that The Allstate Co. will post 16.45 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Friday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

Allstate Company 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.