Gilliland Jeter Wealth Management LLC Takes $1.23 Million Position in The Allstate Co. (NYSE:ALL)

Gilliland Jeter Wealth Management LLC bought a new stake in The Allstate Co. (NYSE:ALL) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 8,775 shares of the insurance provider’s stock, valued at approximately $1,228,000.

A number of other institutional investors have also modified their holdings of the stock. Citizens Financial Group Inc. RI acquired a new stake in shares of Allstate in the 4th quarter valued at about $245,000. Markel Group Inc. grew its position in shares of Allstate by 9.2% during the 4th quarter. Markel Group Inc. now owns 154,550 shares of the insurance provider’s stock valued at $21,634,000 after buying an additional 13,000 shares during the last quarter. First Fiduciary Investment Counsel Inc. bought a new stake in shares of Allstate during the 4th quarter valued at about $236,000. Syon Capital LLC grew its position in shares of Allstate by 5.4% during the 4th quarter. Syon Capital LLC now owns 2,033 shares of the insurance provider’s stock valued at $285,000 after buying an additional 105 shares during the last quarter. Finally, Cross Staff Investments Inc bought a new stake in shares of Allstate during the 4th quarter valued at about $210,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $172.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. TD Cowen assumed coverage on shares of Allstate in a research report on Wednesday, January 10th. They set an “outperform” rating and a $193.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.71.

Allstate Stock Performance

Shares of Allstate stock traded down $2.27 on Friday, hitting $170.07. The company had a trading volume of 1,279,038 shares, compared to its average volume of 1,336,406. The business has a 50-day simple moving average of $165.09 and a 200-day simple moving average of $149.38. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $176.93.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $1.95. The business had revenue of $14.83 billion during the quarter, compared to analysts’ expectations of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted ($1.36) earnings per share. As a group, sell-side analysts anticipate that The Allstate Co. will post 13.44 EPS for the current year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a $0.92 dividend. The ex-dividend date was Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a dividend yield of 2.16%. Allstate’s dividend payout ratio (DPR) is -296.77%.

Insider Activity

In related news, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the sale, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Allstate news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Allstate Profile

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.