Arkadios Wealth Advisors Sells 297 Shares of The Allstate Co. (NYSE:ALL)

Arkadios Wealth Advisors decreased its stake in shares of The Allstate Co. (NYSE:ALL) by 5.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,931 shares of the insurance provider’s stock after selling 297 shares during the period. Arkadios Wealth Advisors’ holdings in Allstate were worth $951,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bridges Investment Management Inc. bought a new stake in Allstate during the second quarter valued at about $207,000. AE Wealth Management LLC boosted its stake in Allstate by 182.0% during the 2nd quarter. AE Wealth Management LLC now owns 5,144 shares of the insurance provider’s stock valued at $821,000 after purchasing an additional 3,320 shares during the period. Pacer Advisors Inc. grew its holdings in Allstate by 4.6% in the 2nd quarter. Pacer Advisors Inc. now owns 18,804 shares of the insurance provider’s stock valued at $3,002,000 after buying an additional 827 shares during the last quarter. ProShare Advisors LLC increased its position in Allstate by 3.7% in the 2nd quarter. ProShare Advisors LLC now owns 62,679 shares of the insurance provider’s stock worth $10,007,000 after buying an additional 2,256 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Allstate during the second quarter worth approximately $364,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on ALL. Bank of America upped their target price on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Jefferies Financial Group boosted their price target on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods raised their price objective on Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Morgan Stanley boosted their price objective on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Piper Sandler raised their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.13.

Allstate Stock Performance

Allstate stock opened at $188.85 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $50.01 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 1.35 and a beta of 0.52. The Allstate Co. has a 12-month low of $150.17 and a 12-month high of $209.88. The stock has a 50-day simple moving average of $195.73 and a 200 day simple moving average of $186.69.

Allstate (NYSE:ALL) last issued its quarterly 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. The business had revenue of $16.63 billion during 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%. Allstate’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. On average, research analysts anticipate that The Allstate Co. will post 16.45 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.95%. The ex-dividend date was Friday, November 29th. Allstate’s dividend payout ratio is 23.83%.

About Allstate

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.