Wealth Enhancement Advisory Services LLC Increases Position in The Allstate Co. (NYSE:ALL)

Wealth Enhancement Advisory Services LLC raised its position in shares of The Allstate Co. (NYSE:ALL) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,567 shares of the insurance provider’s stock after purchasing an additional 397 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Allstate were worth $18,503,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Allstate in the 4th quarter valued at $14,518,000. Peoples Bank KS purchased a new stake in Allstate during the fourth quarter valued at about $49,000. Boltwood Capital Management grew its stake in shares of Allstate by 10.5% during the fourth quarter. Boltwood Capital Management now owns 7,710 shares of the insurance provider’s stock valued at $1,486,000 after buying an additional 730 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Allstate by 1.2% in the fourth quarter. Nordea Investment Management AB now owns 54,086 shares of the insurance provider’s stock worth $10,397,000 after buying an additional 631 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Allstate by 27.2% in the 4th quarter. GAMMA Investing LLC now owns 5,070 shares of the insurance provider’s stock valued at $977,000 after acquiring an additional 1,084 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Price Performance

Shares of NYSE:ALL opened at $181.12 on Friday. The business has a fifty day moving average price of $195.84 and a 200-day moving average price of $185.53. 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 company has a market capitalization of $47.96 billion, a PE ratio of 11.73, a PEG ratio of 1.70 and a beta of 0.52. The Allstate Co. has a 1-year low of $148.23 and a 1-year high of $209.88.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. The business had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. As a group, equities analysts expect that The Allstate Co. will post 16.26 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Friday, November 29th. Allstate’s payout ratio is currently 23.83%.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of analyst reports. BMO Capital Markets increased their price objective on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Morgan Stanley boosted their price objective on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods upped their price target on Allstate from $235.00 to $243.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Piper Sandler lifted their price objective on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $218.06.

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.