Prospera Financial Services Inc Boosts Holdings in The Allstate Co. (NYSE:ALL)

Prospera Financial Services Inc grew its position in shares of The Allstate Co. (NYSE:ALL) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,389 shares of the insurance provider’s stock after buying an additional 194 shares during the quarter. Prospera Financial Services Inc’s holdings in Allstate were worth $453,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in Allstate by 18.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after purchasing an additional 472,040 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Allstate by 10.6% in the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock valued at $287,851,000 after buying an additional 145,986 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Allstate by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock valued at $229,545,000 after buying an additional 47,038 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after acquiring an additional 1,047,019 shares during the period. Finally, Hsbc Holdings PLC raised its position in Allstate by 3.3% in the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock worth $160,948,000 after acquiring an additional 31,789 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ALL shares. Bank of America increased their price target on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a report on Friday, October 18th. Raymond James lifted their price target on shares of Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods upped their price target on Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group lifted their price objective on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their target price on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average price target of $214.19.

Insider Buying and Selling at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is owned by company insiders.

Allstate Stock Performance

Shares of ALL opened at $203.80 on Friday. The company has a market capitalization of $53.97 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 1.81 and a beta of 0.48. 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 Allstate Co. has a 1 year low of $134.17 and a 1 year high of $205.35. The company’s 50 day simple moving average is $191.41 and its 200 day simple moving average is $177.84.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping 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 firm had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, sell-side analysts predict that The Allstate Co. will post 16.07 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.81%. Allstate’s dividend payout ratio is presently 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.