Independent Advisor Alliance Grows Holdings in The Allstate Co. (NYSE:ALL)

Independent Advisor Alliance grew its holdings in shares of The Allstate Co. (NYSE:ALL) by 227.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,498 shares of the insurance provider’s stock after buying an additional 14,237 shares during the quarter. Independent Advisor Alliance’s holdings in Allstate were worth $3,888,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after purchasing an additional 472,040 shares during the last quarter. Raymond James & Associates lifted its stake in Allstate by 10.6% during the third quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock worth $287,851,000 after purchasing an additional 145,986 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Allstate by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after purchasing an additional 47,038 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after purchasing an additional 1,047,019 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Allstate by 3.3% during the second quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock worth $160,948,000 after purchasing an additional 31,789 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Down 0.8 %

Shares of Allstate stock opened at $202.14 on Tuesday. The firm has a market cap of $53.53 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 1.81 and a beta of 0.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The Allstate Co. has a 52-week low of $134.17 and a 52-week high of $205.35. The stock has a 50-day simple moving average of $191.64 and a 200-day simple moving average of $178.11.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) 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 analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 EPS. On average, equities research analysts expect that The Allstate Co. will post 16.07 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.82%. Allstate’s dividend payout ratio is 23.83%.

Insider Activity

In related news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on ALL. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 target price on shares of Allstate in a research report on Wednesday, August 14th. Wells Fargo & Company lifted their target price on Allstate from $175.00 to $186.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. BMO Capital Markets increased their price target on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Raymond James increased their price target on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Friday, October 4th. Finally, Evercore ISI increased their price target on Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.19.

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.