Meyer Handelman Co. Increases Stake in The Allstate Co. (NYSE:ALL)

Meyer Handelman Co. boosted its stake in The Allstate Co. (NYSE:ALL) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 177,611 shares of the insurance provider’s stock after purchasing an additional 3,101 shares during the quarter. Allstate comprises approximately 1.2% of Meyer Handelman Co.’s holdings, making the stock its 26th largest holding. Meyer Handelman Co.’s holdings in Allstate were worth $34,242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ALL. LPL Financial LLC lifted its position in shares of Allstate by 9.2% in the second quarter. LPL Financial LLC now owns 200,939 shares of the insurance provider’s stock worth $32,082,000 after buying an additional 16,846 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Allstate by 3.8% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 12,061 shares of the insurance provider’s stock worth $1,926,000 after buying an additional 440 shares during the last quarter. Wealthspire Advisors LLC increased its holdings in shares of Allstate by 22.7% in the 2nd quarter. Wealthspire Advisors LLC now owns 2,695 shares of the insurance provider’s stock worth $430,000 after buying an additional 498 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Allstate by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock valued at $229,545,000 after acquiring an additional 47,038 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Allstate in the 2nd quarter valued at about $3,083,000. Institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ALL. Bank of America upped their price objective on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Piper Sandler lifted their price target on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. increased their price objective on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods boosted 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, Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $218.13.

Allstate Price Performance

NYSE ALL opened at $186.87 on Wednesday. The company has a market cap of $49.48 billion, a PE ratio of 12.10, a P/E/G 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. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The firm’s 50 day moving average price is $195.89 and its 200-day moving average price is $186.07.

Allstate (NYSE:ALL) last announced its quarterly 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. The business had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business posted $0.81 EPS. Sell-side analysts forecast that The Allstate Co. will post 16.26 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, November 29th. Allstate’s payout ratio is currently 23.83%.

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.