Great Valley Advisor Group Inc. Grows Position in The Allstate Co. (NYSE:ALL)

Great Valley Advisor Group Inc. grew its stake in The Allstate Co. (NYSE:ALL) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,396 shares of the insurance provider’s stock after buying an additional 300 shares during the period. Great Valley Advisor Group Inc.’s holdings in Allstate were worth $1,212,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BDF Gestion acquired a new stake in Allstate during the 2nd quarter worth about $3,051,000. OFI Invest Asset Management purchased a new stake in Allstate in the second quarter valued at approximately $476,000. Diversified Trust Co increased its holdings in Allstate by 505.3% in the 2nd quarter. Diversified Trust Co now owns 7,923 shares of the insurance provider’s stock worth $1,265,000 after buying an additional 6,614 shares during the period. Cetera Investment Advisers raised its position in Allstate by 351.6% during the 1st quarter. Cetera Investment Advisers now owns 65,221 shares of the insurance provider’s stock worth $11,284,000 after buying an additional 50,780 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Allstate by 3.3% during the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after acquiring an additional 31,789 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

NYSE:ALL opened at $202.14 on Tuesday. The stock has a 50 day moving average of $191.64 and a two-hundred day moving average of $178.11. The Allstate Co. has a 12 month low of $134.17 and a 12 month high of $205.35. The firm has a market cap of $53.53 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last issued its quarterly earnings results 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 analysts’ expectations of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. On average, analysts expect that The Allstate Co. will post 16.07 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared 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 1.82%. The ex-dividend date of this dividend is Friday, November 29th. Allstate’s dividend payout ratio is currently 23.83%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALL. Roth Mkm reissued a “buy” rating and set a $200.00 target price on shares of Allstate in a report on Wednesday, August 14th. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. TD Cowen upped their target price on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Piper Sandler lifted their price target on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, UBS Group upped their price objective on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average target price of $214.19.

Insider Buying and Selling

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by company insiders.

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.