Essex Financial Services Inc. Boosts Stake in The Allstate Co. (NYSE:ALL)

Essex Financial Services Inc. boosted its position in shares of The Allstate Co. (NYSE:ALL) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,188 shares of the insurance provider’s stock after buying an additional 250 shares during the period. Essex Financial Services Inc.’s holdings in Allstate were worth $1,771,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ALL. Carnegie Investment Counsel purchased a new stake in shares of Allstate during the 3rd quarter valued at about $224,000. Exchange Traded Concepts LLC raised its position in Allstate by 6,673.1% during the third quarter. Exchange Traded Concepts LLC now owns 5,283 shares of the insurance provider’s stock valued at $1,002,000 after purchasing an additional 5,205 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Allstate in the 3rd quarter valued at approximately $93,000. CX Institutional boosted its holdings in shares of Allstate by 523.5% in the 3rd quarter. CX Institutional now owns 25,656 shares of the insurance provider’s stock worth $4,866,000 after purchasing an additional 21,541 shares during the period. Finally, Wesbanco Bank Inc. increased its position in shares of Allstate by 136.4% during the 3rd quarter. Wesbanco Bank Inc. now owns 15,875 shares of the insurance provider’s stock valued at $3,011,000 after purchasing an additional 9,159 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 1.6 %

Shares of NYSE ALL opened at $189.50 on Wednesday. The Allstate Co. has a twelve month low of $153.87 and a twelve month high of $209.88. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $192.05 and a two-hundred day simple moving average of $189.34. The firm has a market cap of $50.18 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Analysts expect that The Allstate Co. will post 18.64 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.94%. The ex-dividend date was Friday, November 29th. Allstate’s payout ratio is 21.66%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ALL shares. Barclays lowered their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Bank of America raised their target price on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Piper Sandler upped their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Wells Fargo & Company raised their price objective on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group boosted their target price on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and an average price target of $217.94.

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.