Dakota Wealth Management Cuts Stake in The Allstate Co. (NYSE:ALL)

Dakota Wealth Management lowered its holdings in shares of The Allstate Co. (NYSE:ALL) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,382 shares of the insurance provider’s stock after selling 583 shares during the quarter. Dakota Wealth Management’s holdings in Allstate were worth $2,202,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. SPC Financial Inc. grew its holdings in Allstate by 3.6% during the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after buying an additional 54 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of Allstate by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after purchasing an additional 54 shares during the last quarter. Abacus Planning Group Inc. lifted its stake in shares of Allstate by 2.4% in the 3rd quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock valued at $458,000 after purchasing an additional 56 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of Allstate by 1.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after acquiring an additional 59 shares during the last quarter. Finally, Carmichael Hill & Associates Inc. lifted its stake in shares of Allstate by 15.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock worth $87,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of ALL opened at $184.63 on Friday. The stock has a 50-day moving average of $195.15 and a two-hundred day moving average of $187.10. The Allstate Co. has a one year low of $153.42 and a one year high of $209.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market cap of $48.89 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.45 and a beta of 0.52.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The firm’s revenue was up 14.7% compared to the same quarter last year. As a group, research analysts predict that The Allstate Co. will post 16.72 EPS for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were paid a $0.92 dividend. The ex-dividend date was Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.99%. Allstate’s payout ratio is 23.83%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Barclays cut their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company lifted their price target on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Morgan Stanley lifted their price target on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, BMO Capital Markets lifted their price target on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned 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.com, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $218.13.

About Allstate

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.