The Allstate Co. (NYSE:ALL) Position Reduced by FORVIS Wealth Advisors LLC

FORVIS Wealth Advisors LLC lowered its stake in The Allstate Co. (NYSE:ALLFree Report) by 14.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 7,394 shares of the insurance provider’s stock after selling 1,250 shares during the period. FORVIS Wealth Advisors LLC’s holdings in Allstate were worth $1,279,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Private Wealth Management Group LLC bought a new stake in Allstate in the fourth quarter valued at about $25,000. Rise Advisors LLC acquired a new stake in shares of Allstate during the 1st quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new position in Allstate during the first quarter worth $26,000. Turtle Creek Wealth Advisors LLC acquired a new position in Allstate in the fourth quarter worth $36,000. Finally, Venturi Wealth Management LLC increased its stake in Allstate by 152.7% during the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 168 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

Shares of NYSE ALL traded down $0.74 during mid-day trading on Thursday, reaching $159.44. 701,232 shares of the company traded hands, compared to its average volume of 1,408,049. The stock has a fifty day simple moving average of $165.01 and a 200-day simple moving average of $160.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $42.08 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 1.88 and a beta of 0.48. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $177.37.

Allstate (NYSE:ALLGet Free Report) last released its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same period in the previous year, the company earned ($1.30) earnings per share. Allstate’s revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that The Allstate Co. will post 12.15 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, May 31st were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Friday, May 31st. Allstate’s dividend payout ratio is presently 81.24%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Wells Fargo & Company upped their target price on Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a report on Friday, May 10th. HSBC upgraded Allstate from a “hold” rating to a “buy” rating and increased their price target for the stock from $158.00 to $190.00 in a research report on Thursday, March 28th. Evercore ISI boosted their price objective on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $194.00 target price on shares of Allstate in a research report on Friday, June 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and an average target price of $174.88.

Get Our Latest Stock Analysis on ALL

About Allstate

(Free Report)

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.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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