The Allstate Co. (NYSE:ALL) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky trimmed its holdings in shares of The Allstate Co. (NYSE:ALL) by 42.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,045 shares of the insurance provider’s stock after selling 1,480 shares during the quarter. Independence Bank of Kentucky’s holdings in Allstate were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SageView Advisory Group LLC acquired a new position in shares of Allstate during the fourth quarter valued at about $456,000. Rafferty Asset Management LLC increased its stake in Allstate by 5.7% during the 4th quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock valued at $12,984,000 after purchasing an additional 4,987 shares in the last quarter. Ellsworth Advisors LLC purchased a new position in shares of Allstate in the fourth quarter worth $4,312,000. SteelPeak Wealth LLC lifted its stake in shares of Allstate by 175.2% during the fourth quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock worth $2,209,000 after buying an additional 9,984 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Allstate during the fourth quarter worth $5,927,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Evercore ISI raised their target price on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $194.00 price objective on shares of Allstate in a report on Friday, June 21st. HSBC raised Allstate from a “hold” rating to a “buy” rating and lifted their target price for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. Piper Sandler increased their price target on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.88.

Allstate Stock Down 0.2 %

ALL stock opened at $159.66 on Friday. The Allstate Co. has a one year low of $100.57 and a one year high of $177.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The firm’s fifty day moving average is $165.87 and its 200 day moving average is $160.07. The firm has a market cap of $42.14 billion, a PE ratio of 35.25, a P/E/G ratio of 1.88 and a beta of 0.50.

Allstate (NYSE:ALL) last posted its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. The firm had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm earned ($1.30) EPS. On average, research analysts forecast that The Allstate Co. will post 12.15 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, May 31st. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

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.