Grove Bank & Trust Acquires 355 Shares of The Allstate Co. (NYSE:ALL)

Grove Bank & Trust boosted its holdings in shares of The Allstate Co. (NYSE:ALL) by 88.8% during the 4th quarter, Holdings Channel reports. The fund owned 755 shares of the insurance provider’s stock after buying an additional 355 shares during the period. Grove Bank & Trust’s holdings in Allstate were worth $146,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALL. JPMorgan Chase & Co. lifted its position in shares of Allstate by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock valued at $109,605,000 after buying an additional 28,584 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of Allstate by 38.0% during the third quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock valued at $2,067,000 after buying an additional 2,888 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Allstate by 1.7% during the third quarter. Bank of Montreal Can now owns 683,574 shares of the insurance provider’s stock valued at $128,758,000 after buying an additional 11,195 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Allstate during the third quarter valued at about $623,000. Finally, Brookstone Capital Management lifted its position in shares of Allstate by 63.0% during the fourth quarter. Brookstone Capital Management now owns 10,498 shares of the insurance provider’s stock valued at $2,024,000 after buying an additional 4,059 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

NYSE:ALL opened at $188.85 on Tuesday. The firm’s fifty day moving average is $195.73 and its two-hundred day moving average is $186.69. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The Allstate Co. has a one year low of $150.17 and a one year high of $209.88. The firm has a market cap of $50.01 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.35 and a beta of 0.52.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the prior year, the company posted $0.81 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. Research analysts expect that The Allstate Co. will post 16.45 EPS for the current year.

Allstate Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have commented on ALL. 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 report on Monday, January 6th. BMO Capital Markets increased their price objective on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. UBS Group boosted their target price on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company boosted their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Finally, Piper Sandler upped their target price on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.13.

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.