Patton Albertson Miller Group LLC Has $4.75 Million Stock Position in The Allstate Co. (NYSE:ALL)

Patton Albertson Miller Group LLC lifted its position in The Allstate Co. (NYSE:ALL - Free Report) by 21.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,906 shares of the insurance provider's stock after buying an additional 5,999 shares during the quarter. Patton Albertson Miller Group LLC's holdings in Allstate were worth $4,746,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Allstate in the third quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Allstate during the fourth quarter valued at approximately $36,000. Venturi Wealth Management LLC raised its stake in shares of Allstate by 152.7% in the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 168 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in Allstate in the fourth quarter worth $43,000. Finally, First Command Advisory Services Inc. bought a new stake in Allstate in the 3rd quarter valued at $48,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Allstate

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the firm's stock in a transaction on 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 completion of 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 Securities & Exchange Commission, which is available at the SEC website. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the firm's stock in a transaction on 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 completion of 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 Securities & Exchange Commission, which is available at the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the firm's stock in a transaction 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 sale, the chief accounting officer now directly owns 10,736 shares of the company's stock, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Allstate Stock Up 0.7 %

ALL stock traded up $1.26 during mid-day trading on Friday, hitting $172.72. 901,037 shares of the company were exchanged, compared to its average volume of 1,660,886. The firm has a market cap of $45.58 billion, a P/E ratio of 38.13, a P/E/G ratio of 0.39 and a beta of 0.51. The Allstate Co. has a 1-year low of $100.57 and a 1-year high of $177.37. The firm's 50 day simple moving average is $166.88 and its 200 day simple moving average is $152.17. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping the consensus estimate of $4.11 by $1.02. The company had revenue of $15.26 billion during the quarter, compared to analysts' expectations of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The business's quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the business earned ($1.30) EPS. On average, sell-side analysts predict that The Allstate Co. will post 14.57 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.92 dividend. The ex-dividend date was Friday, March 1st. This is a boost from Allstate's previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a dividend yield of 2.13%. Allstate's dividend payout ratio (DPR) is currently 81.24%.

Wall Street Analyst Weigh In

Several research firms recently commented on ALL. 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. Morgan Stanley upped their target price on shares of Allstate from $187.00 to $190.00 and gave the stock an "overweight" rating in a report on Monday, April 15th. HSBC raised shares of Allstate from a "hold" rating to a "buy" rating and lifted their price target for the company from $158.00 to $190.00 in a report on Thursday, March 28th. BMO Capital Markets upped their price objective on shares of Allstate from $140.00 to $158.00 and gave the stock a "market perform" rating in a research note on Friday, January 19th. Finally, Piper Sandler boosted their target price on Allstate from $172.00 to $188.00 and gave the stock an "overweight" rating in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $174.59.

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.

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