Graypoint LLC Lowers Stake in The Allstate Co. (NYSE:ALL)

Graypoint LLC cut its stake in The Allstate Co. (NYSE:ALL) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,380 shares of the insurance provider’s stock after selling 454 shares during the quarter. Graypoint LLC’s holdings in Allstate were worth $2,772,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. FSA Wealth Management LLC purchased a new position in Allstate in the third quarter valued at about $26,000. Northwest Investment Counselors LLC purchased a new position in shares of Allstate in the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC purchased a new stake in Allstate during the third quarter valued at approximately $29,000. Peoples Bank KS acquired a new stake in Allstate in the fourth quarter valued at approximately $49,000. Finally, Transamerica Financial Advisors Inc. purchased a new position in Allstate in the third quarter worth $58,000. 76.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ALL shares. Morgan Stanley boosted their target price on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Raymond James upped their price objective on shares of Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a report on Friday, October 4th. Barclays lowered their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday. 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 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $218.06.

Allstate Price Performance

Shares of Allstate stock traded down $10.68 during mid-day trading on Friday, reaching $181.12. 4,639,914 shares of the stock traded hands, compared to its average volume of 2,512,677. 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 business has a 50-day moving average of $195.91 and a 200 day moving average of $185.23. The stock has a market capitalization of $47.96 billion, a PE ratio of 11.73, a PEG ratio of 1.70 and a beta of 0.52. The Allstate Co. has a fifty-two week low of $148.23 and a fifty-two week high of $209.88.

Allstate (NYSE:ALL) last announced 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 for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 EPS. On average, analysts predict that The Allstate Co. will post 16.26 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were given a $0.92 dividend. The ex-dividend date was Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.03%. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

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.