State of Alaska Department of Revenue Decreases Stock Holdings in The Allstate Co. (NYSE:ALL)

State of Alaska Department of Revenue trimmed its position in The Allstate Co. (NYSE:ALL) by 16.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,682 shares of the insurance provider’s stock after selling 15,115 shares during the quarter. State of Alaska Department of Revenue’s holdings in Allstate were worth $13,439,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. SageView Advisory Group LLC bought a new stake in Allstate in the fourth quarter valued at $456,000. Rafferty Asset Management LLC boosted its holdings in shares of Allstate by 5.7% during the 4th quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock valued at $12,984,000 after buying an additional 4,987 shares in the last quarter. Ellsworth Advisors LLC bought a new stake in shares of Allstate during the 4th quarter valued at $4,312,000. SteelPeak Wealth LLC boosted its holdings in shares of Allstate by 175.2% during the 4th quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock valued at $2,209,000 after buying an additional 9,984 shares in the last quarter. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Allstate during the 4th quarter valued at $5,927,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a report on Monday, March 25th. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and boosted their target price for the company from $158.00 to $190.00 in a report on Thursday, March 28th. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 3rd. Finally, Piper Sandler lifted their price target on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.88.

Allstate Price Performance

Shares of NYSE:ALL opened at $159.43 on Thursday. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $177.37. The business has a 50-day simple moving average of $165.27 and a two-hundred day simple moving average of $160.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap of $42.08 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 1.88 and a beta of 0.48.

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

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, May 31st were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Friday, May 31st. Allstate’s payout ratio is currently 81.24%.

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.