The Allstate Co. (NYSE:ALL) Stake Lowered by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC reduced its stake in shares of The Allstate Co. (NYSE:ALL) by 4.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,269 shares of the insurance provider’s stock after selling 140 shares during the period. Chesley Taft & Associates LLC’s holdings in Allstate were worth $566,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Allstate by 4.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,023 shares of the insurance provider’s stock worth $11,769,000 after purchasing an additional 2,940 shares in the last quarter. Corundum Group Inc. acquired a new position in shares of Allstate during the first quarter valued at about $212,000. St. Johns Investment Management Company LLC raised its position in shares of Allstate by 6.8% during the first quarter. St. Johns Investment Management Company LLC now owns 4,222 shares of the insurance provider’s stock valued at $730,000 after buying an additional 267 shares during the last quarter. Brookstone Capital Management raised its position in shares of Allstate by 40.8% during the first quarter. Brookstone Capital Management now owns 6,368 shares of the insurance provider’s stock valued at $1,102,000 after buying an additional 1,845 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its position in Allstate by 38.5% in the first quarter. Sunbelt Securities Inc. now owns 363 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 101 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Roth Mkm raised their price objective on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Evercore ISI increased their target price on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Morgan Stanley increased their target price on shares of Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Piper Sandler raised their price objective on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.88.

Allstate Stock Performance

Shares of ALL stock opened at $160.01 on Friday. The company has a market capitalization of $42.23 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 1.86 and a beta of 0.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The company has a 50-day simple moving average of $166.32 and a 200 day simple moving average of $159.84. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $177.37.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. The firm had revenue of $15.26 billion during the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.30) EPS. On average, sell-side analysts predict that The Allstate Co. will post 12.15 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, May 31st. Allstate’s payout ratio is presently 81.24%.

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.