Advisor Group Holdings Inc. Decreases Position in The Allstate Co. (NYSE:ALL)

Posted by John Perry on May 26th, 2023

Advisor Group Holdings Inc. lessened its position in The Allstate Co. (NYSE:ALL – Get Rating) by 13.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 111,232 shares of the insurance provider’s stock after selling 16,945 shares during the period. Advisor Group Holdings Inc.’s holdings in Allstate were worth $15,088,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Citizens Financial Group Inc RI boosted its stake in shares of Allstate by 3.2% during the 4th quarter. Citizens Financial Group Inc RI now owns 2,645 shares of the insurance provider’s stock valued at $361,000 after purchasing an additional 82 shares in the last quarter. Kentucky Retirement Systems raised its holdings in Allstate by 0.4% in the fourth quarter. Kentucky Retirement Systems now owns 21,251 shares of the insurance provider’s stock worth $2,882,000 after buying an additional 93 shares during the last quarter. Nikulski Financial Inc. raised its holdings in Allstate by 0.5% in the fourth quarter. Nikulski Financial Inc. now owns 18,323 shares of the insurance provider’s stock worth $2,485,000 after buying an additional 95 shares during the last quarter. MGO One Seven LLC raised its holdings in Allstate by 3.0% in the fourth quarter. MGO One Seven LLC now owns 3,310 shares of the insurance provider’s stock worth $449,000 after buying an additional 96 shares during the last quarter. Finally, Unison Advisors LLC raised its holdings in shares of Allstate by 0.7% during the fourth quarter. Unison Advisors LLC now owns 14,887 shares of the insurance provider’s stock valued at $2,031,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 77.48% of the company’s stock.

Allstate Price Performance

NYSE:ALL opened at $111.04 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market cap of $29.19 billion, a price-to-earnings ratio of -12.52, a price-to-earnings-growth ratio of 4.95 and a beta of 0.58. The company has a 50 day moving average price of $113.98 and a 200-day moving average price of $125.37. The Allstate Co. has a 1-year low of $103.20 and a 1-year high of $142.15.

Allstate (NYSE:ALL – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The insurance provider reported ($1.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.94) by $0.64. Allstate had a negative net margin of 4.33% and a negative return on equity of 7.77%. The firm had revenue of $13.79 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same quarter last year, the company earned $2.58 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities research analysts forecast that The Allstate Co. will post 3.36 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd will be paid a dividend of $0.89 per share. The ex-dividend date is Thursday, June 1st. This represents a $3.56 annualized dividend and a yield of 3.21%. Allstate’s dividend payout ratio (DPR) is presently -40.14%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company reduced their target price on shares of Allstate from $104.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday, April 5th. Citigroup dropped their price target on shares of Allstate from $150.00 to $138.00 in a research report on Tuesday, April 18th. Piper Sandler upped their price target on shares of Allstate from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 4th. StockNews.com started coverage on shares of Allstate in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Bank of America upped their target price on shares of Allstate from $146.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, May 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $141.31.

About Allstate

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The Allstate Corp. engages in the property and casualty insurance business and the provision of protection solutions. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property-Liability, and Corporate and Other. The Allstate Protection segment offers private passenger auto, homeowners, other personal lines, and commercial insurance marketed under the Allstate, National General, and Answer Financial brand names.