CNB Bank bought a new stake in shares of Allstate (NYSE:ALL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,099 shares of the insurance provider’s stock, valued at approximately $429,000.
Other hedge funds have also modified their holdings of the company. Rational Advisors LLC bought a new stake in Allstate during the 4th quarter valued at $126,000. Taylor Hoffman Wealth Management bought a new stake in Allstate during the 4th quarter valued at $131,000. Synovus Financial Corp bought a new stake in Allstate during the 3rd quarter valued at $137,000. Americafirst Capital Management LLC bought a new stake in Allstate during the 3rd quarter valued at $138,000. Finally, Resources Investment Advisors Inc. raised its holdings in Allstate by 71.1% during the 4th quarter. Resources Investment Advisors Inc. now owns 1,340 shares of the insurance provider’s stock valued at $140,000 after acquiring an additional 557 shares during the period. 75.86% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Allstate from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Argus restated a “buy” rating and set a $110.00 price target on shares of Allstate in a research report on Wednesday, February 21st. Morgan Stanley restated an “equal weight” rating and set a $105.00 price target (down from $113.00) on shares of Allstate in a research report on Wednesday, February 21st. Citigroup reduced their price target on shares of Allstate from $118.00 to $111.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Finally, Deutsche Bank reduced their price target on shares of Allstate from $102.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $99.00.
Allstate (NYSE:ALL) last announced its earnings results on Wednesday, February 7th. The insurance provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.56. Allstate had a net margin of 8.28% and a return on equity of 12.57%. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same period in the previous year, the business earned $2.17 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. analysts predict that Allstate will post 8.32 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 5th will be given a $0.46 dividend. The ex-dividend date is Friday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a yield of 1.90%. Allstate’s payout ratio is 21.98%.
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.