The Allstate Co. (NYSE:ALL) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 577,934 shares of the insurance provider's stock after buying an additional 28,584 shares during the quarter. JPMorgan Chase & Co. owned 0.22% of Allstate worth $109,605,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Farther Finance Advisors LLC raised its position in Allstate by 26.5% during the second quarter. Farther Finance Advisors LLC now owns 1,831 shares of the insurance provider's stock valued at $294,000 after purchasing an additional 383 shares during the period. Summit Financial LLC bought a new stake in Allstate in the second quarter worth $360,000. Resonant Capital Advisors LLC increased its position in Allstate by 6.1% during the second quarter. Resonant Capital Advisors LLC now owns 1,667 shares of the insurance provider's stock valued at $268,000 after acquiring an additional 96 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Allstate by 3.1% in the second quarter. Rhumbline Advisers now owns 533,694 shares of the insurance provider's stock valued at $85,210,000 after acquiring an additional 16,121 shares during the period. Finally, Midland Wealth Advisors LLC lifted its holdings in shares of Allstate by 34.7% in the 2nd quarter. Midland Wealth Advisors LLC now owns 3,535 shares of the insurance provider's stock worth $564,000 after acquiring an additional 911 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Down 0.4 %

ALL stock traded down $0.84 during trading on Thursday, hitting $191.95. 1,721,443 shares of the company's stock traded hands, compared to its average volume of 1,534,989. The firm has a market capitalization of $50.83 billion, a P/E ratio of 12.43, a PEG ratio of 1.70 and a beta of 0.50. The Allstate Co. has a 1 year low of $143.80 and a 1 year high of $209.88. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $195.79 and a two-hundred day simple moving average of $184.23.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion for 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 business's revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business posted $0.81 EPS. Sell-side analysts anticipate that The Allstate Co. will post 16.26 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Friday, November 29th. Allstate's payout ratio is 23.83%.

Analyst Ratings Changes

Several equities analysts recently commented on ALL shares. Morgan Stanley upped their price target on shares of Allstate from $220.00 to $228.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on Allstate from $205.00 to $207.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. UBS Group raised their price target on Allstate from $216.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Bank of America upped their price objective on Allstate from $216.00 to $233.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Finally, Barclays lifted their target price on Allstate from $175.00 to $187.00 and gave the stock an "underweight" rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Allstate has a consensus rating of "Moderate Buy" and a consensus price target of $217.19.

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.