The Allstate Co. (NYSE:ALL) Shares Sold by AGF Management Ltd.

AGF Management Ltd. trimmed its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 24.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,806 shares of the insurance provider's stock after selling 4,140 shares during the period. AGF Management Ltd.'s holdings in Allstate were worth $2,469,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its stake in Allstate by 1.1% in the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider's stock worth $2,190,758,000 after acquiring an additional 126,922 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Allstate by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider's stock valued at $1,178,164,000 after purchasing an additional 74,537 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Allstate by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,834,172 shares of the insurance provider's stock valued at $353,610,000 after purchasing an additional 19,463 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings 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 purchasing an additional 1,111,748 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Allstate by 11.8% in the 3rd quarter. FMR LLC now owns 933,352 shares of the insurance provider's stock valued at $177,010,000 after purchasing an additional 98,179 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

ALL has been the topic of several recent research reports. Evercore ISI upgraded shares of Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Piper Sandler lifted their target price on shares of Allstate from $206.00 to $244.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. The Goldman Sachs Group lifted their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, Barclays dropped their price target on shares of Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $217.94.

Insider Buying and Selling at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 18,115 shares of the company's stock, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.

Allstate Stock Performance

Shares of NYSE:ALL traded up $5.68 during trading on Friday, reaching $207.68. 2,546,006 shares of the company's stock traded hands, compared to its average volume of 1,524,794. 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 Allstate Co. has a 12 month low of $156.66 and a 12 month high of $209.88. The company has a 50 day moving average of $191.72 and a 200-day moving average of $192.38. The stock has a market capitalization of $55.04 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating 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 expect that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.93%. This is a positive change from Allstate's previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. Allstate's payout ratio is presently 23.54%.

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

Allstate 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.