Ritholtz Wealth Management Purchases 4,696 Shares of The Allstate Corporation $ALL

Ritholtz Wealth Management increased its position in The Allstate Corporation (NYSE:ALL) by 27.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,916 shares of the insurance provider’s stock after acquiring an additional 4,696 shares during the period. Ritholtz Wealth Management’s holdings in Allstate were worth $4,862,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Gables Capital Management Inc. bought a new position in Allstate in the 2nd quarter worth about $26,000. Allied Private Wealth LLC acquired a new stake in shares of Allstate in the second quarter valued at approximately $29,000. Kelleher Financial Advisors acquired a new stake in shares of Allstate in the second quarter valued at approximately $28,000. Transamerica Financial Advisors LLC bought a new stake in shares of Allstate during the second quarter valued at approximately $32,000. Finally, Highland Investment Advisors LLC bought a new stake in shares of Allstate during the second quarter valued at approximately $31,000. 76.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Roth Capital set a $300.00 price objective on Allstate in a research report on Thursday, August 6th. The Goldman Sachs Group lowered their target price on Allstate from $280.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, October 1st. Keefe, Bruyette & Woods lifted their target price on Allstate from $232.00 to $241.00 and gave the company an “underperform” rating in a research note on Tuesday. Bank of America boosted their price target on Allstate from $336.00 to $340.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Finally, TD Cowen boosted their price target on Allstate from $231.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $273.48.

Allstate Stock Up 1.7%

Allstate stock opened at $266.68 on Friday. The stock has a market cap of $65.99 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 0.56 and a beta of 0.13. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $246.06 and its two-hundred day moving average price is $231.16. The Allstate Corporation has a 52 week low of $191.13 and a 52 week high of $281.11.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 4th. The insurance provider reported $9.76 EPS for the quarter, topping analysts’ consensus estimates of $6.89 by $2.87. The company had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $15.87 billion. Allstate had a net margin of 16.57% and a return on equity of 38.37%. Allstate’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $11.17 EPS. On average, analysts expect that The Allstate Corporation will post 37.33 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Monday, November 30th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, November 30th. Allstate’s dividend payout ratio (DPR) is currently 9.78%.

Allstate Profile

Allstate Corporation is a U.S.-based insurance company that provides property and casualty coverage and related protection products. Its offerings include auto, homeowners, renters, condominium, motorcycle and recreational vehicle insurance, as well as life insurance and roadside assistance. The company sells products through its Allstate-branded business and other businesses, including National General, using agents and direct-to-consumer channels. Allstate primarily serves customers in the United States.