Barnes Pettey Financial Advisors LLC Lowers Position in The Allstate Co. (NYSE:ALL)

Barnes Pettey Financial Advisors LLC decreased its stake in The Allstate Co. (NYSE:ALL) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,869 shares of the insurance provider’s stock after selling 76 shares during the period. Barnes Pettey Financial Advisors LLC’s holdings in Allstate were worth $939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ALL. Northwestern Mutual Wealth Management Co. lifted its stake in Allstate by 19.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 37,182 shares of the insurance provider’s stock worth $5,937,000 after purchasing an additional 6,003 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Allstate by 29.3% during the second quarter. NewEdge Advisors LLC now owns 18,516 shares of the insurance provider’s stock valued at $2,956,000 after buying an additional 4,192 shares during the last quarter. Regal Investment Advisors LLC grew its holdings in Allstate by 8.6% during the 2nd quarter. Regal Investment Advisors LLC now owns 1,427 shares of the insurance provider’s stock valued at $228,000 after buying an additional 113 shares in the last quarter. Truist Financial Corp increased its stake in Allstate by 8.7% in the 2nd quarter. Truist Financial Corp now owns 147,163 shares of the insurance provider’s stock worth $23,496,000 after acquiring an additional 11,721 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Allstate during the 2nd quarter worth approximately $3,256,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ALL shares. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Bank of America lifted their price target on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Barclays decreased their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group increased their target price on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus price target of $218.13.

Allstate Stock Up 1.6 %

Allstate stock opened at $193.80 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $51.32 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.41 and a beta of 0.52. The business has a fifty day moving average price of $194.33 and a 200-day moving average price of $188.10. The Allstate Co. has a 1-year low of $153.42 and a 1-year high of $209.88.

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, beating the consensus estimate 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 the consensus estimate of $14.57 billion. During the same quarter in the previous year, the business earned $0.81 EPS. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities research analysts forecast that The Allstate Co. will post 16.83 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, November 29th. Allstate’s dividend payout ratio (DPR) is currently 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.