Commerce Bank Reduces Stock Holdings in The Allstate Co. (NYSE:ALL)

Commerce Bank lessened its stake in shares of The Allstate Co. (NYSE:ALL) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,159 shares of the insurance provider’s stock after selling 555 shares during the quarter. Commerce Bank’s holdings in Allstate were worth $6,602,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ALL. Confluence Wealth Services Inc. boosted its stake in Allstate by 0.9% in the first quarter. Confluence Wealth Services Inc. now owns 7,547 shares of the insurance provider’s stock valued at $1,306,000 after acquiring an additional 65 shares in the last quarter. Gradient Investments LLC boosted its position in shares of Allstate by 1.6% in the 4th quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock valued at $578,000 after purchasing an additional 66 shares during the period. Brighton Jones LLC grew its stake in Allstate by 1.9% during the 4th quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock worth $541,000 after buying an additional 71 shares during the last quarter. SVB Wealth LLC lifted its stake in Allstate by 1.2% in the fourth quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock valued at $864,000 after buying an additional 72 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Allstate by 1.5% in the fourth quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock valued at $754,000 after acquiring an additional 82 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and increased their target price for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. Piper Sandler upped their price objective on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Wells Fargo & Company upped their price target on Allstate from $146.00 to $153.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. Finally, StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $175.47.

Allstate Stock Down 0.4 %

ALL opened at $159.41 on Thursday. The firm has a market cap of $42.07 billion, a P/E ratio of 35.32, a PEG ratio of 1.88 and a beta of 0.48. The business’s fifty day simple moving average is $163.87 and its 200 day simple moving average is $161.25. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $177.37. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48.

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

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, May 31st were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Friday, May 31st. Allstate’s payout ratio is 81.24%.

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.