True North Advisors LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

True North Advisors LLC purchased a new stake in The Allstate Co. (NYSE:ALL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,022 shares of the insurance provider’s stock, valued at approximately $3,089,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALL. State Street Corp grew its holdings in shares of Allstate by 1.1% in the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after acquiring an additional 126,922 shares during the period. Geode Capital Management LLC boosted its position in Allstate by 1.2% during the third quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock worth $1,178,164,000 after purchasing an additional 74,537 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Allstate by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after purchasing an additional 472,040 shares during the last quarter. Raymond James & Associates increased its position in shares of Allstate by 10.6% in the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock valued at $287,851,000 after buying an additional 145,986 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its stake in shares of Allstate by 18,472.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after buying an additional 1,047,019 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of research reports. UBS Group increased their price objective on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Morgan Stanley upped their target price on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Jefferies Financial Group lifted their price objective on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Raymond James lifted their price target on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a report on Friday, October 4th. Finally, Keefe, Bruyette & Woods upped their price objective on Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.13.

Allstate Stock Down 2.5 %

Shares of Allstate stock opened at $185.05 on Thursday. The Allstate Co. has a 1-year low of $153.42 and a 1-year high of $209.88. The company has a market capitalization of $49.00 billion, a P/E ratio of 11.98, a PEG ratio of 1.42 and a beta of 0.52. The business’s fifty day moving average price is $195.39 and its two-hundred day moving average price is $187.12. 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 (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. Allstate’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 earnings per share. As a group, research analysts forecast that The Allstate Co. will post 16.72 EPS for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were paid a dividend of $0.92 per share. The ex-dividend date was Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.99%. Allstate’s dividend payout ratio (DPR) 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.