Norden Group LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

Norden Group LLC acquired a new position in The Allstate Co. (NYSE:ALLFree Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,707 shares of the insurance provider’s stock, valued at approximately $641,000.

Other institutional investors have also added to or reduced their stakes in the company. Private Wealth Management Group LLC bought a new position in Allstate in the fourth quarter worth $25,000. Rise Advisors LLC bought a new position in Allstate in the first quarter worth $26,000. Northwest Investment Counselors LLC bought a new position in Allstate in the first quarter worth $26,000. Turtle Creek Wealth Advisors LLC bought a new position in Allstate in the fourth quarter worth $36,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Allstate by 152.7% during the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 168 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 0.6 %

Shares of NYSE:ALL opened at $158.43 on Friday. The stock has a market capitalization of $41.81 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 1.88 and a beta of 0.48. 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 stock’s 50-day simple moving average is $164.52 and its two-hundred day simple moving average is $160.76. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $177.37.

Allstate (NYSE:ALLGet Free Report) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $1.02. The business had revenue of $15.26 billion for 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 revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm posted ($1.30) earnings per share. Analysts expect that The Allstate Co. will post 12.15 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.32%. Allstate’s payout ratio is currently 81.24%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ALL shares. Piper Sandler raised their price target on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Roth Mkm raised their price target on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 8th. JPMorgan Chase & Co. raised their price target on Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $194.00 price target on shares of Allstate in a report on Friday. Finally, Evercore ISI raised their price target on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have assigned 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.com, Allstate has an average rating of “Moderate Buy” and a consensus price target of $174.88.

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About Allstate

(Free Report)

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.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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