Sugarloaf Wealth Management LLC Lowers Stock Holdings in The Allstate Co. (NYSE:ALL)

Sugarloaf Wealth Management LLC cut its holdings in The Allstate Co. (NYSE:ALL) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,185 shares of the insurance provider’s stock after selling 62 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Allstate were worth $228,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Allstate by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock worth $109,605,000 after acquiring an additional 28,584 shares during the period. Eagle Asset Management Inc. increased its stake in shares of Allstate by 38.0% during the third quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock worth $2,067,000 after purchasing an additional 2,888 shares in the last quarter. Bank of Montreal Can raised its position in shares of Allstate by 1.7% during the 3rd quarter. Bank of Montreal Can now owns 683,574 shares of the insurance provider’s stock worth $128,758,000 after purchasing an additional 11,195 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in Allstate in the 3rd quarter valued at about $623,000. Finally, International Assets Investment Management LLC acquired a new stake in Allstate in the 4th quarter worth about $14,518,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Raymond James raised their price objective on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a report on Friday, October 4th. Morgan Stanley upped their target price on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Jefferies Financial Group raised their price target on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, BMO Capital Markets upped their price objective on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $218.06.

Allstate Trading Down 5.6 %

NYSE:ALL traded down $10.66 on Friday, reaching $181.14. The company’s stock had a trading volume of 3,475,427 shares, compared to its average volume of 2,299,747. The firm has a market cap of $47.97 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 1.70 and a beta of 0.52. The Allstate Co. has a 12-month low of $148.23 and a 12-month high of $209.88. The stock has a 50 day moving average price of $195.91 and a 200 day moving average price of $185.23. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the company earned $0.81 earnings per share. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts anticipate that The Allstate Co. will post 16.26 EPS for the current fiscal 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 issued a dividend of $0.92 per share. The ex-dividend date was Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a yield of 2.03%. Allstate’s dividend payout ratio (DPR) is presently 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.