Spire Wealth Management Decreases Stock Holdings in The Allstate Co. (NYSE:ALL)

Spire Wealth Management reduced its position in shares of The Allstate Co. (NYSE:ALL) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,960 shares of the insurance provider’s stock after selling 201 shares during the period. Spire Wealth Management’s holdings in Allstate were worth $458,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ALL. Ellsworth Advisors LLC purchased a new position in Allstate during the 4th quarter valued at $4,312,000. SteelPeak Wealth LLC grew its holdings in shares of Allstate by 175.2% during the 4th quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock worth $2,209,000 after acquiring an additional 9,984 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Allstate by 484.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock worth $46,488,000 after acquiring an additional 275,319 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Allstate by 214.6% during the fourth quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock valued at $220,000 after purchasing an additional 1,071 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in Allstate by 88.7% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider’s stock worth $3,429,000 after purchasing an additional 11,512 shares during the period. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALL shares. Wells Fargo & Company lifted their target price on shares of Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. BMO Capital Markets lifted their price target on Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a research report on Friday, January 19th. Evercore ISI raised 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. JPMorgan Chase & Co. increased their price target on shares of Allstate from $185.00 to $193.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, TheStreet raised Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.18.

Insider Transactions at Allstate

In other news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the transaction, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Allstate Trading Up 0.7 %

NYSE:ALL opened at $171.46 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a 50-day simple moving average of $166.64 and a 200-day simple moving average of $152.04. The Allstate Co. has a one year low of $100.57 and a one year high of $177.37. The firm has a market cap of $45.25 billion, a P/E ratio of 37.85, a P/E/G ratio of 0.39 and a beta of 0.51.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, beating analysts’ consensus estimates of $4.11 by $1.02. The company had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned ($1.30) earnings per share. Equities analysts anticipate that The Allstate Co. will post 14.57 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.15%. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s payout ratio is presently 81.24%.

Allstate Company 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.