Congress Wealth Management LLC DE Sells 2,283 Shares of The Allstate Co. (NYSE:ALL)

Congress Wealth Management LLC DE trimmed its holdings in shares of The Allstate Co. (NYSE:ALL) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,622 shares of the insurance provider’s stock after selling 2,283 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Allstate were worth $14,122,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Allstate by 11.5% during the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after purchasing an additional 3,322,673 shares in the last quarter. Wellington Management Group LLP increased its holdings in Allstate by 2.1% in the third quarter. Wellington Management Group LLP now owns 3,831,852 shares of the insurance provider’s stock valued at $426,907,000 after purchasing an additional 77,295 shares during the period. Morgan Stanley increased its stake in shares of Allstate by 16.9% in the third quarter. Morgan Stanley now owns 3,701,607 shares of the insurance provider’s stock valued at $412,396,000 after buying an additional 536,137 shares during the period. Allspring Global Investments Holdings LLC increased its position in Allstate by 0.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,629,870 shares of the insurance provider’s stock valued at $508,109,000 after purchasing an additional 27,766 shares during the period. Finally, Norges Bank acquired a new stake in shares of Allstate during the fourth quarter worth $212,771,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

Shares of NYSE ALL opened at $160.57 on Tuesday. The stock has a fifty day moving average of $165.87 and a 200-day moving average of $160.18. 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 stock has a market cap of $42.38 billion, a PE ratio of 35.45, 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:ALL) last issued its quarterly earnings data 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. The company had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted ($1.30) earnings per share. Equities research analysts anticipate that The Allstate Co. will post 12.15 earnings per share for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, May 31st were given a $0.92 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $3.68 annualized dividend and a yield of 2.29%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Analyst Ratings Changes

ALL has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Roth Mkm lifted their price target on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their price objective on Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. StockNews.com downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Monday, June 3rd. Finally, Wells Fargo & Company upped their price objective on shares of Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average target price of $174.88.

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.