First Citizens Bank & Trust Co. Sells 2,001 Shares of The Allstate Co. (NYSE:ALL)

First Citizens Bank & Trust Co. trimmed its position in shares of The Allstate Co. (NYSE:ALL) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 54,518 shares of the insurance provider’s stock after selling 2,001 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Allstate were worth $10,511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in Allstate by 1.1% in the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock valued at $2,190,758,000 after buying an additional 126,922 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Allstate by 1.2% in 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 purchasing an additional 74,537 shares during the period. Allspring Global Investments Holdings LLC raised its position in Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after purchasing an additional 472,040 shares in the last quarter. Raymond James & Associates increased its stake in shares of Allstate by 10.6% during the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock valued at $287,851,000 after buying an additional 145,986 shares during the period. Finally, Pathway Financial Advisers LLC lifted its stake in Allstate by 18,472.5% in the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after acquiring an additional 1,047,019 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ALL shares. The Goldman Sachs Group raised their target price on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods upped their target price on Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Bank of America boosted their price target on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. BMO Capital Markets raised 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, UBS Group increased their price target 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 investment analyst has rated the stock with a sell rating, one has issued 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $218.13.

Allstate Price Performance

Allstate stock opened at $185.97 on Friday. The company has a fifty day simple moving average of $194.70 and a 200-day simple moving average of $187.27. The firm has a market capitalization of $49.25 billion, a price-to-earnings ratio of 12.04, 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 52-week low of $153.42 and a 52-week high of $209.88.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. Allstate’s quarterly revenue was up 14.7% on a year-over-year basis. On average, equities analysts anticipate that The Allstate Co. will post 16.83 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were given a dividend of $0.92 per share. The ex-dividend date was Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.98%. Allstate’s payout ratio is 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.