The Allstate Co. (NYSE:ALL) Shares Bought by Hennessy Advisors Inc.

Hennessy Advisors Inc. lifted its position in shares of The Allstate Co. (NYSE:ALL) by 6.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 58,600 shares of the insurance provider’s stock after purchasing an additional 3,800 shares during the period. Hennessy Advisors Inc.’s holdings in Allstate were worth $11,297,000 at the end of the most recent quarter.

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

Allstate Price Performance

ALL opened at $191.24 on Friday. 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 company’s 50-day moving average price is $195.87 and its 200 day moving average price is $186.08. The Allstate Co. has a fifty-two week low of $150.17 and a fifty-two week high of $209.88. The firm has a market cap of $50.64 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.35 and a beta of 0.52.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the prior year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts expect that The Allstate Co. will post 16.45 earnings per share for the current year.

Allstate Announces Dividend

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 of this dividend was Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.92%. Allstate’s dividend payout ratio is currently 23.83%.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of research reports. UBS Group raised their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. BMO Capital Markets boosted their target price on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Bank of America upped their target price on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Piper Sandler lifted their price target on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley upped their price objective on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. One 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $218.13.

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.