tru Independence LLC Sells 2,216 Shares of The Allstate Co. (NYSE:ALL)

tru Independence LLC lessened its holdings in shares of The Allstate Co. (NYSE:ALL) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,429 shares of the insurance provider’s stock after selling 2,216 shares during the quarter. Allstate makes up 1.9% of tru Independence LLC’s portfolio, making the stock its 16th biggest position. tru Independence LLC’s holdings in Allstate were worth $6,059,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FSA Wealth Management LLC bought a new position in Allstate in the third quarter worth about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Allstate in the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC bought a new position in shares of Allstate in the 3rd quarter worth approximately $29,000. Peoples Bank KS bought a new position in shares of Allstate in the 4th quarter worth approximately $49,000. Finally, Transamerica Financial Advisors Inc. bought a new position in shares of Allstate in the 3rd quarter worth approximately $58,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ALL shares. Barclays decreased their price target on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company raised their target price on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Piper Sandler raised their target price on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Jefferies Financial Group boosted their target price on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Keefe, Bruyette & Woods raised their price target on Allstate from $235.00 to $243.00 and gave the company an “outperform” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus price target of $218.13.

Allstate Stock Performance

Shares of NYSE ALL opened at $188.29 on Monday. The Allstate Co. has a 12-month low of $153.42 and a 12-month high of $209.88. The firm has a 50 day moving average of $194.70 and a 200 day moving average of $187.66. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $49.86 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. The business had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. Allstate’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 earnings per share. On average, research analysts anticipate that The Allstate Co. will post 16.83 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were given a $0.92 dividend. The ex-dividend date was Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.95%. Allstate’s payout ratio is currently 23.83%.

Allstate Company 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.