Prana Capital Management LP Has $51.90 Million Stock Holdings in The Allstate Co. (NYSE:ALL)

Prana Capital Management LP raised its stake in shares of The Allstate Co. (NYSE:ALL) by 539.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 273,655 shares of the insurance provider’s stock after purchasing an additional 230,893 shares during the period. Allstate accounts for about 2.4% of Prana Capital Management LP’s holdings, making the stock its 15th biggest position. Prana Capital Management LP’s holdings in Allstate were worth $51,899,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ALL. FSA Wealth Management LLC acquired a new stake in Allstate in the third quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate in the 3rd quarter valued at $28,000. Catalyst Capital Advisors LLC bought a new stake in Allstate in the third quarter worth $29,000. Family Firm Inc. acquired a new position in Allstate during the second quarter worth $38,000. Finally, Transamerica Financial Advisors Inc. bought a new position in Allstate during the third quarter valued at about $58,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Evercore ISI increased their price objective on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. Piper Sandler increased their price target on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Morgan Stanley boosted their price objective on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Barclays raised their target price on shares of Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets boosted their target price on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and an average target price of $217.19.

Allstate Stock Down 0.5 %

Shares of ALL stock opened at $203.40 on Wednesday. The stock has a market cap of $53.86 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 1.80 and a beta of 0.50. 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 stock has a fifty day moving average price of $193.48 and a 200 day moving average price of $179.68. The Allstate Co. has a one year low of $134.17 and a one 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 for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the business earned $0.81 EPS. The firm’s revenue was up 14.7% on a year-over-year basis. Analysts predict 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. Stockholders of record on Friday, November 29th will be issued a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.81%. Allstate’s payout ratio is presently 23.83%.

Insider Buying and Selling

In related news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares in the company, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

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.