SteelPeak Wealth LLC Sells 562 Shares of The Allstate Co. (NYSE:ALL)

SteelPeak Wealth LLC lowered its stake in The Allstate Co. (NYSE:ALL) by 28.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,430 shares of the insurance provider’s stock after selling 562 shares during the period. SteelPeak Wealth LLC’s holdings in Allstate were worth $277,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ALL. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Allstate by 19.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 37,182 shares of the insurance provider’s stock valued at $5,937,000 after acquiring an additional 6,003 shares during the period. NewEdge Advisors LLC grew its position in shares of Allstate by 29.3% during the 2nd quarter. NewEdge Advisors LLC now owns 18,516 shares of the insurance provider’s stock worth $2,956,000 after buying an additional 4,192 shares during the period. Regal Investment Advisors LLC lifted its holdings in Allstate by 8.6% in the second quarter. Regal Investment Advisors LLC now owns 1,427 shares of the insurance provider’s stock valued at $228,000 after buying an additional 113 shares during the period. Truist Financial Corp boosted its stake in Allstate by 8.7% in the second quarter. Truist Financial Corp now owns 147,163 shares of the insurance provider’s stock valued at $23,496,000 after acquiring an additional 11,721 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Allstate during the 2nd quarter worth $3,256,000. Institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Shares of NYSE ALL opened at $193.80 on Friday. 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 business has a 50-day moving average of $194.33 and a 200-day moving average of $188.10. The stock has a market capitalization of $51.32 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.41 and a beta of 0.52. The Allstate Co. has a fifty-two week low of $153.42 and a fifty-two week high of $209.88.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping the consensus estimate of $2.20 by $1.71. The firm 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 quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. As a group, sell-side analysts predict that The Allstate Co. will post 16.83 earnings per share for the current fiscal 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 paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Friday, November 29th. Allstate’s dividend payout ratio is currently 23.83%.

Analysts Set New Price Targets

ALL has been the topic of several recent research reports. Morgan Stanley raised their price target on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Piper Sandler increased their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods increased their target price on shares of Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, BMO Capital Markets boosted their price target on shares of Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $218.13.

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.