Everence Capital Management Inc. Sells 1,040 Shares of The Allstate Co. (NYSE:ALL)

Everence Capital Management Inc. lessened its holdings in shares of The Allstate Co. (NYSE:ALL) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,509 shares of the insurance provider’s stock after selling 1,040 shares during the quarter. Everence Capital Management Inc.’s holdings in Allstate were worth $2,412,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Pathway Financial Advisers LLC raised its position in shares of Allstate by 18,472.5% in the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after purchasing an additional 1,047,019 shares during the period. Allspring Global Investments Holdings LLC grew 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 buying an additional 472,040 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Allstate by 181.6% during the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after buying an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in Allstate in the 3rd quarter worth about $77,819,000. Finally, Acadian Asset Management LLC grew its position in shares of Allstate by 3,839.0% during the 2nd quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock worth $66,417,000 after purchasing an additional 405,553 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Evercore ISI upped their price target on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. UBS Group raised their price objective on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Barclays increased their target price on Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price of $217.19.

Allstate Stock Up 0.7 %

ALL traded up $1.40 during mid-day trading on Friday, reaching $193.35. 398,543 shares of the stock were exchanged, compared to its average volume of 1,036,517. 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 company has a 50 day moving average price of $195.79 and a two-hundred day moving average price of $184.23. The Allstate Co. has a 1 year low of $147.08 and a 1 year high of $209.88. The stock has a market capitalization of $51.20 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50.

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

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were given a dividend of $0.92 per share. The ex-dividend date was Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.90%. Allstate’s dividend payout ratio is currently 23.83%.

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.