Aviance Capital Partners LLC Increases Position in The Allstate Co. (NYSE:ALL)

Aviance Capital Partners LLC lifted its stake in shares of The Allstate Co. (NYSE:ALL) by 14.1% during the 1st quarter, HoldingsChannel reports. The firm owned 6,448 shares of the insurance provider’s stock after purchasing an additional 797 shares during the quarter. Aviance Capital Partners LLC’s holdings in Allstate were worth $1,116,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ALL. SageView Advisory Group LLC purchased a new stake in Allstate in the 4th quarter valued at $456,000. Rafferty Asset Management LLC boosted its holdings in Allstate by 5.7% in the 4th quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock valued at $12,984,000 after purchasing an additional 4,987 shares during the last quarter. Ellsworth Advisors LLC acquired a new stake in shares of Allstate during the 4th quarter worth approximately $4,312,000. SteelPeak Wealth LLC raised its position in shares of Allstate by 175.2% during the 4th quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock valued at $2,209,000 after buying an additional 9,984 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new position in Allstate in the fourth quarter valued at approximately $5,927,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Up 0.6 %

Shares of Allstate stock opened at $160.57 on Tuesday. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $177.37. The company has a 50 day moving average of $165.87 and a 200 day moving average of $160.18. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $42.38 billion, a P/E ratio of 35.45, a P/E/G ratio of 1.88 and a beta of 0.48.

Allstate (NYSE:ALL) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same period in the previous year, the company earned ($1.30) EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts forecast that The Allstate Co. will post 12.15 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, May 31st were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, May 31st. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ALL. The Goldman Sachs Group lifted their target price on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Morgan Stanley upped their target price on shares of Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their price objective on shares of Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $194.00 target price on shares of Allstate in a research report on Friday, June 21st. Finally, Piper Sandler raised their price target on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.88.

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.