Magnolia Capital Advisors LLC Grows Stake in The Allstate Co. (NYSE:ALL)

Magnolia Capital Advisors LLC grew its holdings in The Allstate Co. (NYSE:ALL) by 2.3% during the fourth quarter, HoldingsChannel reports. The fund owned 4,135 shares of the insurance provider’s stock after purchasing an additional 94 shares during the period. Magnolia Capital Advisors LLC’s holdings in Allstate were worth $797,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ALL. Pathway Financial Advisers LLC lifted its holdings in shares of Allstate by 18,472.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after buying an additional 1,047,019 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Allstate by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after purchasing an additional 472,040 shares during the period. TimesSquare Capital Management LLC purchased a new stake in shares of Allstate in the third quarter valued at $77,819,000. Los Angeles Capital Management LLC grew its position in shares of Allstate by 688.4% in the third quarter. Los Angeles Capital Management LLC now owns 460,282 shares of the insurance provider’s stock valued at $87,292,000 after purchasing an additional 401,901 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Allstate by 291.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider’s stock valued at $67,528,000 after purchasing an additional 265,213 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Down 0.6 %

Shares of ALL opened at $192.60 on Monday. The Allstate Co. has a 12 month low of $153.42 and a 12 month high of $209.88. The firm’s 50 day moving average is $193.92 and its 200-day moving average is $188.46. The stock has a market capitalization of $51.00 billion, a PE ratio of 12.47, a P/E/G ratio of 1.45 and a beta of 0.52. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were issued a dividend of $0.92 per share. The ex-dividend date was Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.91%. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. BMO Capital Markets boosted their price target on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. UBS Group raised their price target on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Morgan Stanley raised their target price on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Piper Sandler raised their price objective on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $218.13.

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.