Franklin Resources Inc. Boosts Stake in The Allstate Co. (NYSE:ALL)

Franklin Resources Inc. increased its position in The Allstate Co. (NYSE:ALL) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 136,632 shares of the insurance provider’s stock after purchasing an additional 6,616 shares during the quarter. Franklin Resources Inc. owned approximately 0.05% of Allstate worth $26,032,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ALL. &PARTNERS purchased a new stake in Allstate in the second quarter worth about $474,000. Premier Path Wealth Partners LLC grew its stake in shares of Allstate by 2.5% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,457 shares of the insurance provider’s stock worth $392,000 after buying an additional 61 shares during the last quarter. Retirement Systems of Alabama increased its position in Allstate by 0.5% during the 2nd quarter. Retirement Systems of Alabama now owns 58,216 shares of the insurance provider’s stock valued at $9,295,000 after buying an additional 279 shares in the last quarter. Family Firm Inc. purchased a new position in Allstate during the second quarter valued at $38,000. Finally, LRI Investments LLC boosted its holdings in Allstate by 399,800.0% in the second quarter. LRI Investments LLC now owns 3,999 shares of the insurance provider’s stock worth $638,000 after acquiring an additional 3,998 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ALL shares. UBS Group lifted their price target on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. The Goldman Sachs Group upped their target price on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Piper Sandler increased their target price on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. BMO Capital Markets boosted their price target on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. increased their price objective on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.19.

Allstate Stock Up 0.3 %

Shares of ALL stock opened at $189.79 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The Allstate Co. has a 12 month low of $134.17 and a 12 month high of $209.88. The stock has a market cap of $50.26 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.70 and a beta of 0.50. The company has a 50 day simple moving average of $195.61 and a two-hundred day simple moving average of $182.04.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, topping the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. Allstate’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. On average, research analysts expect that The Allstate Co. will post 16.26 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s dividend payout ratio (DPR) is currently 23.83%.

Allstate Profile

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.