Benin Management CORP Sells 250 Shares of The Allstate Co. (NYSE:ALL)

Benin Management CORP trimmed its stake in shares of The Allstate Co. (NYSE:ALL) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,122 shares of the insurance provider’s stock after selling 250 shares during the quarter. Allstate comprises 1.8% of Benin Management CORP’s investment portfolio, making the stock its 8th biggest holding. Benin Management CORP’s holdings in Allstate were worth $6,578,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SPC Financial Inc. boosted its holdings in Allstate by 3.6% in the 3rd quarter. SPC Financial Inc. now owns 1,564 shares of the insurance provider’s stock valued at $297,000 after purchasing an additional 54 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in shares of Allstate by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 3,129 shares of the insurance provider’s stock valued at $596,000 after buying an additional 54 shares in the last quarter. Abacus Planning Group Inc. grew its holdings in Allstate by 2.4% during the third quarter. Abacus Planning Group Inc. now owns 2,416 shares of the insurance provider’s stock worth $458,000 after acquiring an additional 56 shares during the period. Chicago Partners Investment Group LLC raised its position in Allstate by 1.3% in the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after acquiring an additional 59 shares in the last quarter. Finally, Carmichael Hill & Associates Inc. lifted its holdings in Allstate by 15.0% in the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock valued at $87,000 after acquiring an additional 60 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Performance

NYSE:ALL opened at $185.97 on Friday. The Allstate Co. has a twelve month low of $153.42 and a twelve month high of $209.88. The firm has a market capitalization of $49.25 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.41 and a beta of 0.52. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The firm’s fifty day simple moving average is $194.92 and its 200 day simple moving average is $187.09.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, topping the consensus estimate of $2.20 by $1.71. The company had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. As a group, equities research analysts expect that The Allstate Co. will post 16.83 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th were given a dividend of $0.92 per share. The ex-dividend date was Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.98%. Allstate’s payout ratio is currently 23.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Wells Fargo & Company lifted their price target on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upped their price target on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Piper Sandler raised their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Bank of America boosted their target price on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $218.13.

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.