Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in The Allstate Co. (NYSE:ALL)

Wealth Enhancement Advisory Services LLC grew its position in shares of The Allstate Co. (NYSE:ALL) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,023 shares of the insurance provider’s stock after buying an additional 2,940 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Allstate were worth $11,769,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC purchased a new stake in Allstate in the fourth quarter worth approximately $25,000. Rise Advisors LLC purchased a new stake in Allstate in the first quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in Allstate in the first quarter worth approximately $26,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Allstate in the fourth quarter worth approximately $36,000. Finally, Venturi Wealth Management LLC boosted its holdings in Allstate by 152.7% in the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 0.2 %

Shares of ALL stock opened at $159.66 on Friday. The company has a market capitalization of $42.14 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 1.86 and a beta of 0.50. The Allstate Co. has a one year low of $100.57 and a one year high of $177.37. The company’s fifty day moving average price is $165.87 and its 200-day moving average price is $159.96. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. The company had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. Allstate’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.30) EPS. Sell-side analysts expect that The Allstate Co. will post 12.15 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, May 31st will be issued 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 yield of 2.30%. Allstate’s dividend payout ratio is currently 81.24%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Roth Mkm raised their target price on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Piper Sandler raised their target price on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. The Goldman Sachs Group lifted their price target on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $194.00 price target on shares of Allstate in a research note on Friday, June 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.88.

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.