Franklin Resources Inc. Grows Stock Holdings in The Allstate Co. (NYSE:ALL)

Franklin Resources Inc. boosted its holdings in The Allstate Co. (NYSE:ALL) by 5.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 136,632 shares of the insurance provider’s stock after buying an additional 6,616 shares during the period. Franklin Resources Inc.’s holdings in Allstate were worth $26,032,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pathway Financial Advisers LLC grew its position in shares of Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after purchasing an additional 1,047,019 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after buying an additional 472,040 shares in the last quarter. AQR Capital Management LLC grew its holdings in Allstate by 181.6% during the 2nd quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock valued at $114,955,000 after buying an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Allstate during the third quarter valued at approximately $77,819,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Allstate by 3,839.0% in the second quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock worth $66,417,000 after buying an additional 405,553 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 15th. Piper Sandler lifted their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Barclays increased their price target on Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research note on Thursday, October 31st. BMO Capital Markets lifted their price objective on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, UBS Group increased their target price on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.19.

Allstate Stock Performance

Allstate stock opened at $189.79 on Friday. The Allstate Co. has a 1-year low of $134.17 and a 1-year high of $209.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $50.26 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50. The company’s 50-day moving average is $195.61 and its 200 day moving average is $182.04.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion for 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%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 earnings per share. Research analysts forecast that The Allstate Co. will post 16.26 EPS for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.94%. Allstate’s dividend payout ratio (DPR) is 23.83%.

About Allstate

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.