Pinnacle Financial Partners Inc. raised its holdings in The Allstate Co. (NYSE:ALL) by 13.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,902 shares of the insurance provider’s stock after buying an additional 1,680 shares during the period. Pinnacle Financial Partners Inc.’s holdings in The Allstate were worth $1,501,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Planned Solutions Inc. bought a new stake in The Allstate in the third quarter valued at approximately $36,000. Edge Wealth Management LLC bought a new stake in The Allstate in the third quarter valued at approximately $49,000. Professional Financial Advisors LLC bought a new stake in The Allstate in the third quarter valued at approximately $51,000. Old North State Trust LLC bought a new stake in The Allstate in the third quarter valued at approximately $53,000. Finally, Lenox Wealth Advisors LLC raised its stake in The Allstate by 1,463.2% in the third quarter. Lenox Wealth Advisors LLC now owns 594 shares of the insurance provider’s stock valued at $56,000 after buying an additional 556 shares during the period. Hedge funds and other institutional investors own 76.95% of the company’s stock.
ALL has been the topic of several research analyst reports. Raymond James upped their price objective on The Allstate from $120.00 to $125.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 7th. Morgan Stanley increased their target price on The Allstate from $107.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Barclays started coverage on The Allstate in a research note on Tuesday, November 17th. They set an “overweight” rating and a $107.00 target price on the stock. Bank of America increased their target price on The Allstate from $147.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of The Allstate in a research note on Monday, October 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $116.87.
The Allstate (NYSE:ALL) last issued its quarterly earnings results on Monday, November 9th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.77 by $1.17. The business had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.44 billion. The Allstate had a return on equity of 16.70% and a net margin of 10.68%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.84 earnings per share. On average, sell-side analysts anticipate that The Allstate Co. will post 12.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 4th. Shareholders of record on Monday, November 30th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Friday, November 27th. The Allstate’s dividend payout ratio is presently 20.71%.
The Allstate Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; liability insurance products; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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