Allspring Global Investments Holdings LLC Increases Position in The Allstate Corporation $ALL

Allspring Global Investments Holdings LLC lifted its stake in The Allstate Corporation (NYSE:ALL) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,173 shares of the insurance provider’s stock after purchasing an additional 3,581 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of Allstate worth $34,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its holdings in shares of Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after buying an additional 55 shares during the period. Barnes Dennig Private Wealth Management LLC boosted its position in Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 73 shares during the last quarter. Palisade Asset Management LLC purchased a new stake in Allstate during the third quarter valued at approximately $31,000. Armstrong Advisory Group Inc. raised its position in Allstate by 72.0% in the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 67 shares during the period. Finally, South Plains Financial Inc. boosted its stake in shares of Allstate by 41.5% during the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 49 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 19,593 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the transaction, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. The trade was a 16.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Allstate Trading Up 1.5%

Shares of ALL stock opened at $207.10 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $53.75 billion, a price-to-earnings ratio of 5.42, a price-to-earnings-growth ratio of 0.41 and a beta of 0.22. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $216.75. The stock’s 50-day moving average price is $206.05 and its 200-day moving average price is $205.01.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping the consensus estimate of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The company had revenue of $17.35 billion for the quarter, compared to analysts’ expectations of $17.23 billion. During the same quarter in the previous year, the business posted $7.67 earnings per share. Allstate’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were paid a dividend of $1.08 per share. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a yield of 2.1%. Allstate’s payout ratio is presently 11.31%.

Analysts Set New Price Targets

ALL has been the subject of several analyst reports. Mizuho reduced their price objective on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. TD Cowen cut shares of Allstate from a “buy” rating to a “hold” rating in a research note on Monday, January 12th. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Evercore set a $225.00 price objective on shares of Allstate in a research report on Wednesday, January 7th. Finally, William Blair lowered Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Four equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $237.94.

Allstate Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.