Cohen Klingenstein LLC Has $4.78 Million Stake in The Allstate Co. (NYSE:ALL)

Cohen Klingenstein LLC lessened its holdings in The Allstate Co. (NYSE:ALL) by 20.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 24,811 shares of the insurance provider’s stock after selling 6,250 shares during the quarter. Cohen Klingenstein LLC’s holdings in Allstate were worth $4,783,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of ALL. FSA Wealth Management LLC purchased a new position in shares of Allstate in the 3rd quarter worth about $26,000. Northwest Investment Counselors LLC bought a new position in Allstate during the third quarter valued at $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Allstate during the 3rd quarter valued at $29,000. Peoples Bank KS purchased a new stake in Allstate in the 4th quarter worth about $49,000. Finally, Transamerica Financial Advisors Inc. bought a new position in Allstate during the third quarter worth about $58,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

Allstate stock opened at $188.85 on Friday. The Allstate Co. has a 52-week low of $150.17 and a 52-week high of $209.88. The company has a market cap of $50.01 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.35 and a beta of 0.52. The firm’s fifty day moving average is $195.89 and its 200 day moving average is $186.12. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share 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 analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 earnings per share. Sell-side analysts forecast that The Allstate Co. will post 16.45 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.95%. The ex-dividend date was Friday, November 29th. Allstate’s payout ratio is 23.83%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALL. BMO Capital Markets increased their price objective on Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Raymond James lifted their target price on shares of Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. boosted their price target on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group raised their price target on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Allstate has an average 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.