The Allstate Co. (NYSE:ALL) Shares Sold by Chesapeake Wealth Management

Chesapeake Wealth Management cut its holdings in shares of The Allstate Co. (NYSE:ALL) by 8.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,353 shares of the insurance provider’s stock after selling 132 shares during the period. Chesapeake Wealth Management’s holdings in Allstate were worth $261,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. State Street Corp grew its position in shares of Allstate by 1.1% during the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock valued at $2,190,758,000 after acquiring an additional 126,922 shares during the period. Geode Capital Management LLC grew its position in shares of Allstate by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock valued at $1,178,164,000 after acquiring an additional 74,537 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Allstate by 18.7% during 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 acquiring an additional 472,040 shares during the period. Raymond James & Associates grew its position in shares of Allstate by 10.6% during the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock valued at $287,851,000 after acquiring an additional 145,986 shares during the period. Finally, Pathway Financial Advisers LLC grew its position in shares of Allstate by 18,472.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after acquiring an additional 1,047,019 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ALL. Morgan Stanley lifted their price objective on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Piper Sandler lifted their price objective on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price objective on Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, The Goldman Sachs Group lifted their price objective on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $218.13.

Allstate Stock Down 1.2 %

ALL stock opened at $188.85 on Tuesday. The firm has a market cap of $50.01 billion, a PE ratio of 12.23, a PEG ratio of 1.35 and a beta of 0.52. 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 firm’s 50 day moving average price is $195.73 and its 200-day moving average price is $186.69. The Allstate Co. has a one year low of $150.17 and a one year high of $209.88.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned $0.81 EPS. On average, equities research analysts anticipate that The Allstate Co. will post 16.45 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Friday, November 29th. Allstate’s payout ratio is presently 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.