The Allstate Co. (NYSE:ALL) Shares Sold by CHB Investment Group LLC

CHB Investment Group LLC reduced its stake in shares of The Allstate Co. (NYSE:ALL) by 1.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,816 shares of the insurance provider’s stock after selling 181 shares during the quarter. Allstate accounts for approximately 1.7% of CHB Investment Group LLC’s investment portfolio, making the stock its 13th biggest holding. CHB Investment Group LLC’s holdings in Allstate were worth $3,049,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in Allstate during the 3rd quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new position in shares of Allstate during the 3rd quarter valued at about $28,000. Catalyst Capital Advisors LLC acquired a new position in shares of Allstate in the 3rd quarter valued at about $29,000. Peoples Bank KS purchased a new stake in shares of Allstate in the fourth quarter worth about $49,000. Finally, Transamerica Financial Advisors Inc. acquired a new stake in Allstate during the third quarter worth about $58,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ALL shares. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Piper Sandler increased their target price on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price target on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. BMO Capital Markets lifted their target price 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. Finally, Keefe, Bruyette & Woods upped their price target on shares of Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued 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, the company has an average rating of “Moderate Buy” and a consensus target price of $218.06.

Allstate Trading Up 0.9 %

Shares of ALL stock opened at $182.63 on Tuesday. The Allstate Co. has a twelve month low of $150.17 and a twelve month high of $209.88. The stock has a market cap of $48.36 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.70 and a beta of 0.52. The company’s 50-day moving average price is $195.85 and its 200-day moving average price is $185.88. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43.

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

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were given 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 2.02%. Allstate’s dividend payout ratio is currently 23.83%.

Allstate Company 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.