Curi RMB Capital LLC Acquires New Position in The Allstate Co. (NYSE:ALL)

Curi RMB Capital LLC bought a new position in shares of The Allstate Co. (NYSE:ALL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,183 shares of the insurance provider’s stock, valued at approximately $224,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. SPC Financial Inc. grew its holdings in Allstate by 3.6% during the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock worth $297,000 after acquiring an additional 54 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in shares of Allstate by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock worth $596,000 after purchasing an additional 54 shares during the last quarter. Abacus Planning Group Inc. lifted its position in shares of Allstate by 2.4% during the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after purchasing an additional 56 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in Allstate by 1.3% in the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after purchasing an additional 59 shares in the last quarter. Finally, Carmichael Hill & Associates Inc. increased its holdings in Allstate by 15.0% in the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock valued at $87,000 after buying an additional 60 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Performance

Shares of ALL stock opened at $196.88 on Friday. The Allstate Co. has a 12-month low of $131.65 and a 12-month high of $201.00. 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 firm has a market capitalization of $52.13 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.75 and a beta of 0.48. The business has a 50 day simple moving average of $190.01 and a 200 day simple moving average of $176.72.

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. On average, equities research analysts anticipate that The Allstate Co. will post 16.07 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.87%. Allstate’s dividend payout ratio (DPR) is 23.83%.

Insider Transactions at Allstate

In related news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas J. Wilson sold 90,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $179.34, for a total value of $16,140,600.00. Following the transaction, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The trade was a 50.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 143,049 shares of company stock valued at $26,106,112. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

ALL has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Piper Sandler lifted their price objective on shares of Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley raised their price target on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group boosted their price objective on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $214.19.

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.