Institute for Wealth Management LLC. Trims Holdings in The Allstate Co. (NYSE:ALL)

Institute for Wealth Management LLC. decreased its stake in shares of The Allstate Co. (NYSE:ALL) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,823 shares of the insurance provider’s stock after selling 62 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Allstate were worth $544,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ALL. NewEdge Advisors LLC lifted its position in Allstate by 29.3% during the second quarter. NewEdge Advisors LLC now owns 18,516 shares of the insurance provider’s stock worth $2,956,000 after buying an additional 4,192 shares in the last quarter. Truist Financial Corp raised its position in Allstate by 8.7% in the second quarter. Truist Financial Corp now owns 147,163 shares of the insurance provider’s stock valued at $23,496,000 after purchasing an additional 11,721 shares during the period. Sanctuary Advisors LLC purchased a new stake in Allstate in the second quarter valued at $3,256,000. Centaurus Financial Inc. raised its position in Allstate by 43.0% in the second quarter. Centaurus Financial Inc. now owns 841 shares of the insurance provider’s stock valued at $134,000 after purchasing an additional 253 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in Allstate by 1.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 18,126 shares of the insurance provider’s stock valued at $3,438,000 after purchasing an additional 296 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of research analyst reports. UBS Group lifted their target price on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Jefferies Financial Group lifted their target price on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Bank of America lifted their target price on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Piper Sandler lifted their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.13.

Allstate Trading Down 0.6 %

ALL opened at $192.60 on Friday. The Allstate Co. has a 12 month low of $153.42 and a 12 month high of $209.88. The stock has a market capitalization of $51.00 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.45 and a beta of 0.52. 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 business has a fifty day moving average price of $194.15 and a 200 day moving average price of $188.14.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the previous year, the firm posted $0.81 EPS. Allstate’s revenue for the quarter was up 14.7% on a year-over-year basis. Sell-side analysts expect that The Allstate Co. will post 16.96 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were paid 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 yield of 1.91%. Allstate’s payout ratio is 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.