The Allstate Co. (NYSE:ALL) Shares Sold by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC decreased its holdings in The Allstate Co. (NYSE:ALL) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,269 shares of the insurance provider’s stock after selling 140 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Allstate were worth $566,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Allstate by 4.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,023 shares of the insurance provider’s stock valued at $11,769,000 after acquiring an additional 2,940 shares in the last quarter. Corundum Group Inc. bought a new stake in Allstate during the first quarter valued at about $212,000. St. Johns Investment Management Company LLC boosted its holdings in Allstate by 6.8% during the first quarter. St. Johns Investment Management Company LLC now owns 4,222 shares of the insurance provider’s stock valued at $730,000 after acquiring an additional 267 shares during the period. Brookstone Capital Management lifted its stake in shares of Allstate by 40.8% in the first quarter. Brookstone Capital Management now owns 6,368 shares of the insurance provider’s stock valued at $1,102,000 after buying an additional 1,845 shares during the period. Finally, Sunbelt Securities Inc. lifted its stake in shares of Allstate by 38.5% in the first quarter. Sunbelt Securities Inc. now owns 363 shares of the insurance provider’s stock valued at $63,000 after buying an additional 101 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ALL shares. Wells Fargo & Company increased their price target on shares of Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and raised their price objective for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. Morgan Stanley boosted their price objective on shares of Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Piper Sandler boosted their price objective on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $194.00 price objective on shares of Allstate in a research note on Friday, June 21st. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $174.88.

Allstate Stock Performance

NYSE ALL opened at $160.01 on Friday. The firm has a 50-day moving average price of $166.32 and a two-hundred day moving average price of $159.84. The company has a market capitalization of $42.23 billion, a P/E ratio of 35.33, a P/E/G ratio of 1.86 and a beta of 0.50. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $177.37.

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

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, May 31st. Allstate’s dividend 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.