Fmr LLC Has $177.01 Million Position in The Allstate Co. (NYSE:ALL)

Fmr LLC lifted its holdings in shares of The Allstate Co. (NYSE:ALL) by 11.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 933,352 shares of the insurance provider’s stock after purchasing an additional 98,179 shares during the period. Fmr LLC’s holdings in Allstate were worth $177,010,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Cetera Investment Advisers increased its stake in shares of Allstate by 351.6% in the 1st quarter. Cetera Investment Advisers now owns 65,221 shares of the insurance provider’s stock valued at $11,284,000 after acquiring an additional 50,780 shares in the last quarter. Cetera Advisors LLC increased its stake in Allstate by 91.3% in the first quarter. Cetera Advisors LLC now owns 16,103 shares of the insurance provider’s stock valued at $2,786,000 after purchasing an additional 7,684 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Mather Group LLC. boosted its position in shares of Allstate by 45.1% during the 2nd quarter. Mather Group LLC. now owns 2,852 shares of the insurance provider’s stock worth $493,000 after purchasing an additional 887 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of Allstate by 37.8% in the 2nd quarter. Park Avenue Securities LLC now owns 6,209 shares of the insurance provider’s stock valued at $991,000 after buying an additional 1,703 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Piper Sandler upped their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. TD Cowen upped their target price on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Bank of America lifted their price target on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, October 18th. UBS Group upped their price objective on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Raymond James lifted their price objective on shares of Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $217.19.

Insider Activity

In other news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This represents a 57.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of ALL opened at $204.39 on Tuesday. The stock has a 50 day moving average of $193.02 and a 200 day moving average of $179.19. The company has a market capitalization of $54.12 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 1.82 and a beta of 0.48. The Allstate Co. has a 12 month low of $134.17 and a 12 month high of $209.88. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.81 EPS. As a group, sell-side analysts forecast that The Allstate Co. will post 16.26 earnings per share for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s payout ratio is 23.83%.

Allstate 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.