Wedmont Private Capital Boosts Holdings in The Allstate Co. (NYSE:ALL)

Wedmont Private Capital increased its holdings in shares of The Allstate Co. (NYSE:ALL) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,337 shares of the insurance provider’s stock after buying an additional 856 shares during the period. Wedmont Private Capital’s holdings in Allstate were worth $966,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FSA Wealth Management LLC purchased a new position in Allstate in the third quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new stake in Allstate in the 3rd quarter valued at about $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Allstate in the 3rd quarter valued at about $29,000. Peoples Bank KS acquired a new position in shares of Allstate during the fourth quarter worth about $49,000. Finally, Transamerica Financial Advisors Inc. purchased a new stake in shares of Allstate during the third quarter worth approximately $58,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $182.63 on Tuesday. The stock’s 50-day moving average price is $195.85 and its 200 day moving average price is $185.88. 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 stock has a market capitalization of $48.36 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.70 and a beta of 0.52. The Allstate Co. has a 52-week low of $150.17 and a 52-week high of $209.88.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $14.57 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities research analysts forecast that The Allstate Co. will post 16.26 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, November 29th. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

Wall Street Analyst Weigh In

ALL has been the subject of several analyst reports. Barclays lowered their price target on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Wells Fargo & Company increased their target price on Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. UBS Group lifted their price target on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Keefe, Bruyette & Woods increased their price objective on Allstate from $235.00 to $243.00 and gave the company an “outperform” rating in a report on Friday. Finally, Piper Sandler boosted their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $218.06.

Allstate Company 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.