Allspring Global Investments Holdings LLC Has $536.57 Million Stock Holdings in The Allstate Co. (NYSE:ALL)

Allspring Global Investments Holdings LLC decreased its position in The Allstate Co. (NYSE:ALL) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,795,282 shares of the insurance provider’s stock after selling 205,584 shares during the period. Allstate makes up approximately 0.9% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 10th biggest position. Allspring Global Investments Holdings LLC’s holdings in Allstate were worth $536,569,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ALL. FSA Wealth Management LLC bought a new position in shares of Allstate in the third quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new position in Allstate in the 3rd quarter valued at approximately $28,000. Catalyst Capital Advisors LLC purchased a new stake in Allstate during the 3rd quarter valued at $29,000. Peoples Bank KS bought a new stake in Allstate in the 4th quarter worth about $49,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Allstate in the fourth quarter worth approximately $53,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America boosted their price target on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Morgan Stanley increased their price objective on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Jefferies Financial Group raised their price objective on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, UBS Group upped their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. One 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Allstate Stock Up 1.6 %

ALL opened at $189.50 on Wednesday. The stock has a market cap of $50.18 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The firm’s fifty day moving average is $192.05 and its 200 day moving average is $189.34. The Allstate Co. has a fifty-two week low of $153.87 and a fifty-two week high of $209.88.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. On average, sell-side analysts forecast that The Allstate Co. will post 18.64 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.94%. Allstate’s payout ratio is 21.66%.

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.