Holderness Investments Co. purchased a new position in shares of The Allstate Co. (NYSE:ALL - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,260 shares of the insurance provider's stock, valued at approximately $243,000.
Other large investors have also recently made changes to their positions in the company. VSM Wealth Advisory LLC bought a new position in Allstate during the fourth quarter valued at $25,000. FSA Wealth Management LLC purchased a new position in shares of Allstate during the 3rd quarter valued at $26,000. Twin Tree Management LP bought a new position in shares of Allstate during the 4th quarter worth $27,000. Vision Financial Markets LLC purchased a new stake in Allstate in the 4th quarter worth about $29,000. Finally, Hopwood Financial Services Inc. bought a new stake in Allstate in the 4th quarter valued at about $29,000. 76.47% of the stock is owned by hedge funds and other institutional investors.
Allstate Price Performance
Allstate stock traded up $1.04 during mid-day trading on Wednesday, hitting $209.16. 1,086,710 shares of the company traded hands, compared to its average volume of 1,495,541. The stock has a fifty day moving average price of $194.67 and a 200-day moving average price of $193.43. The stock has a market cap of $55.43 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The Allstate Co. has a one year low of $156.66 and a one year high of $212.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36.
Allstate (NYSE:ALL - Get Free Report) last posted 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%. On average, equities analysts predict that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.
Allstate Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 1.91%. Allstate's dividend payout ratio is 23.54%.
Allstate declared that its board has initiated a stock repurchase program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
ALL has been the subject of several recent research reports. Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Evercore ISI raised shares of Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. Piper Sandler raised 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. Finally, Wells Fargo & Company boosted their price objective on Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Allstate currently has an average rating of "Moderate Buy" and a consensus price target of $217.94.
View Our Latest Stock Analysis on Allstate
Insider Activity at Allstate
In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $186.53, for a total transaction 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. This trade represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.
About Allstate
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Free Report)
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.
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