Flagship Wealth Advisors LLC Takes Position in The Allstate Co. (NYSE:ALL)

Flagship Wealth Advisors LLC bought a new position in The Allstate Co. (NYSE:ALL - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,493 shares of the insurance provider's stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ALL. Strategic Financial Concepts LLC grew its stake 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 valued at $215,757,000 after buying an additional 1,111,748 shares during the period. National Pension Service grew its position in Allstate by 69.7% in the fourth quarter. National Pension Service now owns 708,098 shares of the insurance provider's stock worth $136,514,000 after acquiring an additional 290,858 shares during the period. Proficio Capital Partners LLC increased its stake 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 worth $51,887,000 after acquiring an additional 267,969 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Allstate by 291.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider's stock valued at $67,528,000 after purchasing an additional 265,213 shares during the period. Finally, Prana Capital Management LP lifted its stake 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 valued at $51,899,000 after purchasing an additional 230,893 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

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Insider Activity

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction on 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 approximately $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Evercore ISI upgraded shares of Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. Barclays decreased their price objective on shares of Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a report on Monday, January 6th. Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods upped their price target on Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company lifted 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $217.94.

Allstate Stock Down 1.7 %

Shares of NYSE:ALL traded down $3.58 during trading on Friday, hitting $206.60. 2,886,777 shares of the company were exchanged, compared to its average volume of 1,506,700. The firm's 50 day moving average price is $193.24 and its 200-day moving average price is $192.94. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $212.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The stock has a market capitalization of $54.76 billion, a P/E ratio of 12.16, a PEG ratio of 1.01 and a beta of 0.47.

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

Allstate announced that its board has authorized a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.94%. Allstate's dividend payout ratio (DPR) is 23.54%.

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.