Spire Wealth Management Buys 3,462 Shares of The Allstate Co. (NYSE:ALL)

Spire Wealth Management lifted its stake in shares of The Allstate Co. (NYSE:ALL) by 30.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,926 shares of the insurance provider’s stock after purchasing an additional 3,462 shares during the period. Spire Wealth Management’s holdings in Allstate were worth $2,878,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ALL. JPMorgan Chase & Co. increased its stake in shares of Allstate by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock worth $109,605,000 after purchasing an additional 28,584 shares during the last quarter. Ameritas Advisory Services LLC increased its position in Allstate by 117.3% during the fourth quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock worth $944,000 after buying an additional 2,643 shares during the last quarter. Hennessy Advisors Inc. raised its stake in Allstate by 6.9% in the fourth quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider’s stock valued at $11,297,000 after buying an additional 3,800 shares during the period. Artemis Investment Management LLP lifted its position in shares of Allstate by 33.3% in the fourth quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider’s stock valued at $77,413,000 after buying an additional 100,311 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in shares of Allstate by 38.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock worth $2,067,000 after acquiring an additional 2,888 shares during the period. 76.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ALL shares. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Wells Fargo & Company upped their price target on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Morgan Stanley raised their price objective 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. Keefe, Bruyette & Woods upped their target price on Allstate from $235.00 to $243.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, Jefferies Financial Group boosted their price target on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $218.13.

Allstate Stock Down 0.6 %

Shares of ALL opened at $192.60 on Monday. The firm has a 50 day simple moving average of $193.92 and a two-hundred day simple moving average of $188.46. The company has a market cap of $51.00 billion, a P/E ratio of 12.47, a P/E/G ratio of 1.45 and a beta of 0.52. The Allstate Co. has a one year low of $153.42 and a one year high of $209.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Friday, November 29th. Allstate’s dividend payout ratio 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.