Northwest Investment Counselors LLC Acquires New Stake in The Allstate Co. (NYSE:ALL)

Northwest Investment Counselors LLC acquired a new stake in shares of The Allstate Co. (NYSE:ALL) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 150 shares of the insurance provider’s stock, valued at approximately $26,000.

A number of other hedge funds also recently bought and sold shares of ALL. Vanguard Group Inc. increased its position in Allstate by 11.5% in the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after buying an additional 3,322,673 shares in the last quarter. Norges Bank purchased a new stake in Allstate in the fourth quarter worth about $212,771,000. Palestra Capital Management LLC purchased a new stake in Allstate in the fourth quarter worth about $83,561,000. Balyasny Asset Management L.P. purchased a new stake in Allstate in the fourth quarter worth about $81,571,000. Finally, Morgan Stanley increased its position in Allstate by 16.9% in the third quarter. Morgan Stanley now owns 3,701,607 shares of the insurance provider’s stock worth $412,396,000 after buying an additional 536,137 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 1.2 %

Shares of NYSE:ALL opened at $162.41 on Tuesday. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $177.37. The business’s fifty day simple moving average is $166.46 and its 200-day simple moving average is $159.70. The company has a market capitalization of $42.86 billion, a PE ratio of 35.85, a P/E/G ratio of 1.55 and a beta of 0.50. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. The firm had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned ($1.30) EPS. As a group, equities research analysts predict that The Allstate Co. will post 14.99 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be given a $0.92 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.27%. Allstate’s payout ratio is 81.24%.

Analysts Set New Price Targets

A number of equities analysts recently commented on ALL shares. Roth Mkm increased their price target on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Morgan Stanley increased their price target on Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. HSBC raised Allstate from a “hold” rating to a “buy” rating and increased their price target for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. JPMorgan Chase & Co. raised their price target on Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Piper Sandler raised their price target on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.88.

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.