Concord Wealth Partners Has $153,000 Holdings in The Allstate Co. (NYSE:ALL)

Concord Wealth Partners decreased its holdings in The Allstate Co. (NYSE:ALL) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,094 shares of the insurance provider’s stock after selling 100 shares during the period. Concord Wealth Partners’ holdings in Allstate were worth $153,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Ellsworth Advisors LLC acquired a new position in Allstate in the fourth quarter worth approximately $4,312,000. SteelPeak Wealth LLC boosted its position in Allstate by 175.2% during the fourth quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock worth $2,209,000 after purchasing an additional 9,984 shares during the period. Assenagon Asset Management S.A. boosted its position in Allstate by 484.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock worth $46,488,000 after purchasing an additional 275,319 shares during the period. Meeder Asset Management Inc. boosted its position in Allstate by 214.6% during the fourth quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock worth $220,000 after purchasing an additional 1,071 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in Allstate by 88.7% during 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. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BMO Capital Markets increased their price objective on Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a research report on Friday, January 19th. Raymond James increased their price objective on Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research report on Monday, January 22nd. Roth Mkm raised their target price on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. raised their target price on Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Piper Sandler raised their target price on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $174.18.

Insider Activity

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

Allstate Price Performance

Shares of ALL stock opened at $169.18 on Friday. The stock has a 50-day moving average price of $165.88 and a 200 day moving average price of $150.65. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. The firm has a market cap of $44.51 billion, a price-to-earnings ratio of 37.35, a PEG ratio of 0.41 and a beta of 0.51. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $177.37.

Allstate (NYSE:ALL) last issued its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. Allstate had a return on equity of 15.14% and a net margin of 2.31%. The firm had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same quarter last year, the business earned ($1.30) earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. Research analysts expect that The Allstate Co. will post 13.83 EPS for the current year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 dividend on an annualized basis and a yield of 2.18%. This is a boost from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio (DPR) is 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.