Cetera Advisor Networks LLC Increases Stock Holdings in The Allstate Co. (NYSE:ALL)

Cetera Advisor Networks LLC raised its stake in The Allstate Co. (NYSE:ALLGet Rating) by 15.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,594 shares of the insurance provider’s stock after purchasing an additional 3,667 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Allstate were worth $3,497,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Field & Main Bank acquired a new stake in shares of Allstate in the 2nd quarter valued at approximately $25,000. Curi Wealth Management LLC lifted its holdings in shares of Allstate by 7,266.7% in the 2nd quarter. Curi Wealth Management LLC now owns 221 shares of the insurance provider’s stock valued at $28,000 after buying an additional 218 shares during the period. MCF Advisors LLC acquired a new position in Allstate during the first quarter worth $34,000. Hexagon Capital Partners LLC raised its holdings in Allstate by 302.9% during the second quarter. Hexagon Capital Partners LLC now owns 278 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 209 shares during the last quarter. Finally, Rational Advisors LLC acquired a new position in Allstate during the first quarter worth $40,000. 76.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on ALL shares. Piper Sandler reduced their price objective on Allstate to $145.00 in a report on Tuesday, November 15th. Evercore ISI reduced their price objective on Allstate to $125.00 in a report on Thursday, October 20th. TheStreet raised Allstate from a “c+” rating to a “b-” rating in a report on Friday, September 16th. StockNews.com started coverage on Allstate in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Wells Fargo & Company dropped their price target on Allstate from $112.00 to $100.00 in a research report on Thursday, October 20th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.08.

Insider Buying and Selling at Allstate

In other Allstate news, EVP Mark Q. Prindiville sold 5,511 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $125.93, for a total transaction of $694,000.23. Following the completion of the sale, the executive vice president now owns 15,552 shares of the company’s stock, valued at $1,958,463.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.77% of the stock is owned by company insiders.

Allstate Price Performance

Shares of NYSE:ALL opened at $134.35 on Thursday. The company has a market cap of $35.63 billion, a P/E ratio of -94.61, a P/E/G ratio of 12.87 and a beta of 0.63. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.51. The Allstate Co. has a 52 week low of $106.11 and a 52 week high of $144.46. The business has a fifty day simple moving average of $128.88 and a 200-day simple moving average of $126.58.

Allstate (NYSE:ALLGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The insurance provider reported ($1.56) EPS for the quarter, beating analysts’ consensus estimates of ($1.81) by $0.25. Allstate had a positive return on equity of 5.13% and a negative net margin of 0.41%. The business had revenue of $13.38 billion during the quarter, compared to the consensus estimate of $13.30 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts forecast that The Allstate Co. will post 2.05 EPS for the current year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Tuesday, November 29th. Allstate’s dividend payout ratio (DPR) is presently -239.44%.

Allstate Company Profile

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The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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