Brighton Jones LLC Raises Stock Position in The Allstate Co. (NYSE:ALL)

Brighton Jones LLC raised its stake in shares of The Allstate Co. (NYSE:ALL) by 60.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,500 shares of the insurance provider’s stock after buying an additional 2,443 shares during the period. Brighton Jones LLC’s holdings in Allstate were worth $1,253,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in Allstate by 5.2% in the third quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock valued at $109,605,000 after acquiring an additional 28,584 shares during the period. Ameritas Advisory Services LLC lifted its stake in shares of Allstate by 117.3% in the 4th quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock worth $944,000 after purchasing an additional 2,643 shares during the period. Hennessy Advisors Inc. boosted its holdings in shares of Allstate by 6.9% in the fourth quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider’s stock worth $11,297,000 after buying an additional 3,800 shares during the last quarter. Artemis Investment Management LLP grew its position in Allstate by 33.3% during the fourth quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider’s stock valued at $77,413,000 after buying an additional 100,311 shares during the period. Finally, Eagle Asset Management Inc. increased its holdings in Allstate by 38.0% during the third quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock valued at $2,067,000 after buying an additional 2,888 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Trading Up 0.7 %

ALL stock opened at $185.97 on Friday. The firm has a market cap of $49.25 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52. The firm has a fifty day moving average price of $194.92 and a 200 day moving average price of $187.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. 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 announced its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 EPS. Sell-side analysts anticipate that The Allstate Co. will post 16.83 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Friday, November 29th. Allstate’s payout ratio is 23.83%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price objective on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Piper Sandler upped their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Bank of America lifted their price objective on Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group increased their target price on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company lifted their price target on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $218.13.

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.