Spire Wealth Management Increases Position in The Allstate Co.

Spire Wealth Management has increased its stake in shares of The Allstate Co. (NYSE:ALL) by an impressive 30.2% during the fourth quarter, as indicated in the latest filing with the Securities and Exchange Commission. Following this adjustment, the institutional investor now holds 14,926 shares of the well-known insurance provider after acquiring an additional 3,462 shares during this period. The value of Spire Wealth Management's holdings in Allstate reached approximately $2,878,000 at the conclusion of the most recent reporting period.

Changes Among Other Investors

In addition to Spire Wealth Management, several other institutional investors and hedge funds have also made changes to their positions in Allstate recently. For example, FSA Wealth Management LLC purchased a new stake during the third quarter valued at roughly $26,000. Northwest Investment Counselors LLC also acquired a new position in Allstate during the same quarter, estimated at around $28,000. Catalyst Capital Advisors LLC joined the group with a new stake valued at $29,000 acquired during the third quarter. Peoples Bank of KS added a new stake in Allstate worth about $49,000 in the fourth quarter. Lastly, Transamerica Financial Advisors Inc. invested approximately $58,000 in a new position in Allstate during the third quarter. Overall, approximately 76.47% of Allstate's stock is currently held by institutional investors and hedge funds.

Recent Analyst Ratings

A variety of analysts have issued their evaluations on Allstate shares. Piper Sandler has raised their target price on Allstate from $206.00 to $244.00 and assigned an "overweight" rating in a research note on November 26th. UBS Group also increased their target price from $216.00 to $225.00 with a "buy" rating given in a report on November 4th. Similarly, Keefe, Bruyette & Woods raised their price objective on Allstate from $235.00 to $243.00, rating it as "outperform" on January 10th. Bank of America raised their target price from $216.00 to $233.00 and issued a "buy" rating in a note dated October 18th. BMO Capital Markets also increased its price target on Allstate from $205.00 to $214.00, maintaining an "outperform" rating. So far, one analyst has defined the stock with a sell rating, one has classified it as a hold, fourteen have given it a buy rating, and one has assigned a strong buy rating. Data from MarketBeat reveals a consensus rating of "Moderate Buy" for Allstate along with an average price target of $218.13.

Allstate Stock Performance

As of Monday, Allstate stock opened at $192.60. The company has recorded a twelve-month low of $153.42 and a high of $209.88. Its quick ratio stands at 0.40, as does the current ratio, while the debt-to-equity ratio is 0.43. The average prices for the last 50 days and the last 200 days are $193.92 and $188.46, respectively. Allstate has a market capitalization of about $51.00 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.45, and a beta of 0.52.

Dividend Announcement

Recently, Allstate announced a quarterly dividend that was paid on January 2nd. Shareholders who were on record as of November 29th received a dividend of $0.92. This translates to an annualized dividend of $3.68, corresponding to a dividend yield of 1.91%. The ex-dividend date for this distribution was November 29th, with the company's dividend payout ratio standing at 23.83%.

General Company Overview

The Allstate Corporation, along with its subsidiaries, provides a range of property and casualty, and other insurance products across the United States and Canada. It operates in five primary segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property-Liability, and Corporate and Other segments.

Additional Insights

For anyone interested, there are resources available to explore other hedge fund holdings related to The Allstate Co. (NYSE:ALL). For instance, you can investigate online platforms that track institutional holdings for more information.

investment, stocks, insurance