Generali Asset Management SPA SGR Acquires New Position in The Allstate Co. (NYSE:ALL)

Generali Asset Management SPA SGR acquired a new position in shares of The Allstate Co. (NYSE:ALL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,691 shares of the insurance provider's stock, valued at approximately $2,061,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC lifted its position in shares of Allstate by 15,062.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider's stock worth $215,757,000 after purchasing an additional 1,111,748 shares during the period. National Pension Service lifted its holdings in Allstate by 69.7% in the fourth quarter. National Pension Service now owns 708,098 shares of the insurance provider's stock valued at $136,514,000 after buying an additional 290,858 shares during the period. Proficio Capital Partners LLC boosted its position in Allstate by 22,981.9% during the fourth quarter. Proficio Capital Partners LLC now owns 269,135 shares of the insurance provider's stock valued at $51,887,000 after acquiring an additional 267,969 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Allstate by 291.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider's stock worth $67,528,000 after acquiring an additional 265,213 shares during the period. Finally, Prana Capital Management LP raised its position in shares of Allstate by 539.9% in the 3rd quarter. Prana Capital Management LP now owns 273,655 shares of the insurance provider's stock worth $51,899,000 after acquiring an additional 230,893 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $186.53, for a total value of $7,480,226.06. Following the transaction, the chief financial officer now directly owns 18,115 shares in the company, valued at $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company upped their target price on Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 14th. Piper Sandler increased their price target on Allstate from $206.00 to $244.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Evercore ISI raised shares of Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Allstate currently has an average rating of "Moderate Buy" and a consensus target price of $217.94.

Allstate Stock Down 1.7 %

NYSE:ALL traded down $3.58 during trading hours on Friday, hitting $206.60. 2,886,777 shares of the company traded hands, compared to its average volume of 1,504,912. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The company has a market cap of $54.76 billion, a PE ratio of 12.16, a PEG ratio of 1.01 and a beta of 0.47. The firm's 50-day simple moving average is $193.24 and its 200-day simple moving average is $192.94. The Allstate Co. has a one year low of $156.66 and a one year high of $212.91.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Equities analysts predict that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate declared that its board has approved a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.00 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 1.94%. This is a boost from Allstate's previous quarterly dividend of $0.92. Allstate's payout ratio is currently 23.54%.

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.