Golden State Wealth Management LLC Acquires Shares of 293 The Allstate Co. (NYSE:ALL)

Golden State Wealth Management LLC bought a new stake in shares of The Allstate Co. (NYSE:ALL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 293 shares of the insurance provider’s stock, valued at approximately $57,000.

Other institutional investors have also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Allstate by 338.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,684 shares of the insurance provider’s stock valued at $319,000 after purchasing an additional 1,300 shares during the last quarter. Carnegie Investment Counsel purchased a new stake in Allstate in the 3rd quarter worth about $224,000. Exchange Traded Concepts LLC lifted its stake in Allstate by 6,673.1% in the third quarter. Exchange Traded Concepts LLC now owns 5,283 shares of the insurance provider’s stock worth $1,002,000 after purchasing an additional 5,205 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Allstate during the third quarter valued at approximately $93,000. Finally, CX Institutional grew its stake in shares of Allstate by 523.5% during the third quarter. CX Institutional now owns 25,656 shares of the insurance provider’s stock valued at $4,866,000 after buying an additional 21,541 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group raised their price objective on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods upped their target price on Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Wells Fargo & Company raised their price target on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Finally, Bank of America upped their price objective on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.13.

Allstate Stock Down 1.9 %

ALL stock opened at $186.57 on Tuesday. The stock has a market capitalization of $49.40 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The Allstate Co. has a 52 week low of $153.87 and a 52 week high of $209.88. The firm has a 50 day moving average of $192.41 and a 200 day moving average of $189.19.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Sell-side analysts forecast that The Allstate Co. will post 18.64 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were issued a $0.92 dividend. The ex-dividend date was Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a yield of 1.97%. Allstate’s payout ratio is 21.66%.

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.