Miracle Mile Advisors LLC Has $716,000 Stock Holdings in The Allstate Co. (NYSE:ALL)

Miracle Mile Advisors LLC raised its stake in The Allstate Co. (NYSE:ALL) by 10.6% in the fourth quarter, Holdings Channel reports. The firm owned 3,714 shares of the insurance provider’s stock after acquiring an additional 355 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Allstate were worth $716,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ALL. Wedmont Private Capital grew its position in shares of Allstate by 19.1% in the 4th quarter. Wedmont Private Capital now owns 5,337 shares of the insurance provider’s stock valued at $966,000 after acquiring an additional 856 shares during the period. Westmount Partners LLC acquired a new stake in Allstate in the 4th quarter valued at about $202,000. Capital Investment Advisors LLC grew its holdings in Allstate by 13.0% during the fourth quarter. Capital Investment Advisors LLC now owns 3,996 shares of the insurance provider’s stock worth $770,000 after purchasing an additional 459 shares during the period. Brookstone Capital Management increased its position in Allstate by 63.0% during the fourth quarter. Brookstone Capital Management now owns 10,498 shares of the insurance provider’s stock worth $2,024,000 after buying an additional 4,059 shares during the last quarter. Finally, Trust Co. of Toledo NA OH raised its stake in Allstate by 1.5% in the fourth quarter. Trust Co. of Toledo NA OH now owns 8,417 shares of the insurance provider’s stock valued at $1,623,000 after buying an additional 123 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Up 0.6 %

NYSE ALL opened at $188.01 on Thursday. The company has a market cap of $49.79 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.70 and a beta of 0.52. The Allstate Co. has a twelve month low of $150.17 and a twelve month high of $209.88. 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 business’s fifty day moving average is $195.89 and its 200 day moving average is $186.07.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping the consensus estimate of $2.20 by $1.71. The company had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 earnings per share. As a group, sell-side analysts expect that The Allstate Co. will post 16.26 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were issued a $0.92 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a yield of 1.96%. Allstate’s payout ratio is 23.83%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ALL. Keefe, Bruyette & Woods boosted their target price on Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. BMO Capital Markets increased their price objective on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Morgan Stanley upped their price target on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Barclays decreased their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has assigned 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $218.13.

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.