Avidian Wealth Solutions LLC Grows Stock Position in The Allstate Co. (NYSE:ALL)

Avidian Wealth Solutions LLC raised its position in The Allstate Co. (NYSE:ALLFree Report) by 21.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,803 shares of the insurance provider’s stock after purchasing an additional 847 shares during the period. Avidian Wealth Solutions LLC’s holdings in Allstate were worth $831,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Allstate during the 1st quarter valued at about $25,000. Private Wealth Management Group LLC acquired a new position in shares of Allstate during the 4th quarter valued at about $25,000. Rise Advisors LLC acquired a new position in shares of Allstate during the 1st quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Allstate during the 1st quarter valued at about $26,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Allstate during the 4th quarter valued at about $36,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Up 0.8 %

Shares of Allstate stock traded up $1.29 on Wednesday, hitting $160.01. 1,172,729 shares of the company’s stock traded hands, compared to its average volume of 1,575,298. The firm’s 50-day moving average is $164.10 and its 200 day moving average is $161.25. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $177.37. The stock has a market cap of $42.23 billion, a P/E ratio of 35.15, a PEG ratio of 1.88 and a beta of 0.48. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48.

Allstate (NYSE:ALLGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same period last year, the business posted ($1.30) earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts anticipate that The Allstate Co. will post 12.15 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, May 31st were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Friday, May 31st. Allstate’s payout ratio is 81.24%.

Analysts Set New Price Targets

A number of research firms have recently commented on ALL. Evercore ISI upped their price objective on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Roth Mkm increased their target price on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Piper Sandler increased their target price on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $194.00 target price on shares of Allstate in a research report on Friday, July 5th. Finally, HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and increased their target price for the stock from $158.00 to $190.00 in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.47.

Check Out Our Latest Report on ALL

Allstate Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.