Vest Financial LLC Has $36.84 Million Stock Position in The Allstate Corporation $ALL

Key Points

• Vest Financial increased its stake in The Allstate Corporation by 60.8% in Q4, holding 176,986 shares valued at $36.84 million (about 0.07% of Allstate), and institutional investors own roughly 76.47% of the stock.
• Allstate beat Q4 expectations with EPS of $14.31 versus $8.72 estimated and revenue of $17.35 billion, reporting a 15.19% net margin and 39.2% ROE; analysts have a consensus rating of "Moderate Buy" with an average target of $238.65.
• Allstate raised its quarterly dividend to $1.08 (annualized $4.32, yield ~2.0%, payout ratio 11.31%), and its shares trade around $214 with a 12-month range of $188.08–$219.48 and a PE of 5.61.

Vest Financial LLC boosted its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 60.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,986 shares of the insurance provider's stock after acquiring an additional 66,923 shares during the quarter. Vest Financial LLC owned 0.07% of Allstate worth $36,840,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp lifted its position in Allstate by 4.7% in the 3rd quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider's stock valued at $26,501,000 after acquiring an additional 5,542 shares in the last quarter. Davis Capital Management bought a new stake in Allstate in the 3rd quarter valued at $2,767,000. First Horizon Corp acquired a new stake in Allstate in the 3rd quarter valued at $11,109,000. Coastal Bridge Advisors LLC increased its stake in Allstate by 530.6% in the 3rd quarter. Coastal Bridge Advisors LLC now owns 18,174 shares of the insurance provider's stock valued at $3,901,000 after buying an additional 15,292 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in Allstate by 6.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 189,718 shares of the insurance provider's stock valued at $40,489,000 after buying an additional 12,225 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ALL shares. Zacks Research lowered shares of Allstate from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $231.00 price target on shares of Allstate in a research note on Thursday, March 5th. Citigroup boosted their price objective on shares of Allstate from $216.00 to $221.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 10th. TD Cowen lowered shares of Allstate from a "buy" rating to a "hold" rating in a research note on Monday, January 12th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $220.00 price objective on shares of Allstate in a research note on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $238.65.

Allstate Stock Performance

Shares of NYSE:ALL opened at $214.38 on Tuesday. The company's 50 day moving average price is $209.93 and its two-hundred day moving average price is $205.67. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $219.48. The firm has a market cap of $55.36 billion, a PE ratio of 5.61, a PEG ratio of 0.43 and a beta of 0.22. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.72 by $5.59. The business had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $7.67 EPS. Equities research analysts predict that The Allstate Corporation will post 25.82 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were paid a dividend of $1.08 per share. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Allstate's previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. Allstate's payout ratio is 11.31%.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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