Larson Financial Group LLC Raises Holdings in The Allstate Co. (NYSE:ALL)

Larson Financial Group LLC lifted its holdings in shares of The Allstate Co. (NYSE:ALL) by 49.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,247 shares of the insurance provider’s stock after purchasing an additional 411 shares during the period. Larson Financial Group LLC’s holdings in Allstate were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in shares of Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after buying an additional 472,040 shares in the last quarter. Raymond James & Associates raised its stake in shares of Allstate by 10.6% during the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock worth $287,851,000 after buying an additional 145,986 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Allstate by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after buying an additional 47,038 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in shares of Allstate by 18,472.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after buying an additional 1,047,019 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Allstate by 3.3% during the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock worth $160,948,000 after buying an additional 31,789 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

ALL stock opened at $208.19 on Thursday. The Allstate Co. has a 52-week low of $134.17 and a 52-week high of $209.88. The stock’s fifty day simple moving average is $192.34 and its 200-day simple moving average is $178.57. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $55.13 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.80 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 earnings per share. Equities research analysts expect that The Allstate Co. will post 16.07 EPS for the current year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is currently 23.83%.

Insider Buying and Selling

In related news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the topic of a number of research reports. Jefferies Financial Group upped their price target on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. Barclays upped their price target on Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. Piper Sandler upped their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Raymond James upped their price target on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.19.

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.