The Allstate Corporation $ALL Position Boosted by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its position in The Allstate Corporation (NYSE:ALL) by 27.3% during the third quarter, Holdings Channel reports. The institutional investor owned 21,916 shares of the insurance provider’s stock after buying an additional 4,696 shares during the quarter. Ritholtz Wealth Management’s holdings in Allstate were worth $4,862,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new position in Allstate during the second quarter valued at about $5,439,448,000. Bank of America Corp DE grew its holdings in Allstate by 8.1% during the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock worth $1,640,748,000 after acquiring an additional 596,321 shares during the period. GQG Partners LLC bought a new stake in Allstate in the second quarter worth about $1,245,710,000. Deutsche Bank AG bought a new stake in Allstate in the second quarter worth about $1,008,648,000. Finally, Dimensional Fund Advisors LP raised its position in Allstate by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider’s stock worth $581,515,000 after acquiring an additional 154,259 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of NYSE ALL opened at $266.68 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $65.99 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 0.56 and a beta of 0.13. The stock’s fifty day simple moving average is $246.06 and its 200 day simple moving average is $231.16. The Allstate Corporation has a 52-week low of $191.13 and a 52-week high of $281.11.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $2.87. Allstate had a return on equity of 38.37% and a net margin of 16.57%. The company had revenue of $17.35 billion for the quarter, compared to analyst estimates of $15.87 billion. During the same period in the previous year, the firm earned $11.17 earnings per share. Allstate’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, sell-side analysts forecast that The Allstate Corporation will post 37.33 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Monday, November 30th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $4.32 dividend on an annualized basis and a yield of 1.6%. Allstate’s dividend payout ratio (DPR) is currently 9.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ALL shares. Roth Capital set a $300.00 price objective on shares of Allstate in a research report on Thursday, August 6th. TD Cowen lifted their price objective on shares of Allstate from $231.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, September 23rd. Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Morgan Stanley boosted their target price on shares of Allstate from $240.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Jefferies Financial Group cut their target price on shares of Allstate from $310.00 to $292.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $273.48.

Allstate Profile

Allstate Corporation is a U.S.-based insurance company that provides property and casualty coverage and related protection products. Its offerings include auto, homeowners, renters, condominium, motorcycle and recreational vehicle insurance, as well as life insurance and roadside assistance. The company sells products through its Allstate-branded business and other businesses, including National General, using agents and direct-to-consumer channels. Allstate primarily serves customers in the United States.