Sheets Smith Wealth Management Buys 124 Shares of The Allstate Co. (NYSE:ALL)

Sheets Smith Wealth Management boosted its stake in The Allstate Co. (NYSE:ALL) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,941 shares of the insurance provider’s stock after purchasing an additional 124 shares during the quarter. Sheets Smith Wealth Management’s holdings in Allstate were worth $760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FSA Wealth Management LLC acquired a new position in Allstate during the third quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Allstate during the third quarter worth about $28,000. Catalyst Capital Advisors LLC acquired a new position in shares of Allstate in the third quarter valued at approximately $29,000. Peoples Bank KS bought a new position in Allstate in the 4th quarter valued at approximately $49,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in shares of Allstate in the third quarter worth $58,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

Shares of ALL stock opened at $189.92 on Wednesday. The firm’s 50-day moving average is $195.55 and its two-hundred day moving average is $186.90. The Allstate Co. has a 12 month low of $153.42 and a 12 month high of $209.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization of $50.29 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52.

Allstate (NYSE:ALL) last released 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 business 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%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the business posted $0.81 earnings per share. Analysts predict that The Allstate Co. will post 16.45 earnings per share for the current year.

Allstate Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have weighed in on ALL shares. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Raymond James boosted their price objective on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Friday, October 4th. Jefferies Financial Group boosted their price target on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Bank of America increased their price objective on shares of Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, BMO Capital Markets boosted their price objective on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently 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.