Park Avenue Securities LLC Has $1.96 Million Stock Holdings in The Allstate Co. (NYSE:ALL)

Park Avenue Securities LLC raised its holdings in shares of The Allstate Co. (NYSE:ALL) by 40.8% in the 4th quarter, HoldingsChannel reports. The firm owned 10,184 shares of the insurance provider’s stock after buying an additional 2,951 shares during the period. Park Avenue Securities LLC’s holdings in Allstate were worth $1,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Allstate by 8.9% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,137 shares of the insurance provider’s stock worth $661,000 after buying an additional 337 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of Allstate by 82.0% during the second quarter. XTX Topco Ltd now owns 6,608 shares of the insurance provider’s stock worth $1,055,000 after buying an additional 2,978 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Allstate by 7.5% during the second quarter. Brighton Jones LLC now owns 4,132 shares of the insurance provider’s stock worth $660,000 after buying an additional 287 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Allstate by 25.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 24,949 shares of the insurance provider’s stock worth $3,984,000 after buying an additional 4,998 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Allstate by 41.5% during the second quarter. Canada Pension Plan Investment Board now owns 384,217 shares of the insurance provider’s stock worth $61,344,000 after buying an additional 112,753 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler lifted their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. UBS Group lifted their target price on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Keefe, Bruyette & Woods raised their price target on Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. raised their price target on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley raised their price target on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price of $218.13.

Allstate Stock Performance

NYSE:ALL opened at $188.85 on Friday. The stock has a market cap of $50.01 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 1.35 and a beta of 0.52. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average is $195.73 and its 200-day moving average is $186.32. The Allstate Co. has a 1-year low of $150.17 and a 1-year high of $209.88.

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. Equities research analysts anticipate that The Allstate Co. will post 16.45 earnings per share 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 issued 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 dividend payout ratio (DPR) is currently 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.