The Allstate Co. (NYSE:ALL) Shares Sold by AlphaQuest LLC

AlphaQuest LLC reduced its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 98.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 170 shares of the insurance provider's stock after selling 13,436 shares during the quarter. AlphaQuest LLC's holdings in Allstate were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ALL. FSA Wealth Management LLC acquired a new position in shares of Allstate during the 3rd quarter worth $26,000. Vision Financial Markets LLC acquired a new position in Allstate during the fourth quarter worth about $29,000. Peoples Bank KS purchased a new stake in shares of Allstate in the fourth quarter valued at about $49,000. Stonebridge Financial Group LLC acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $53,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Allstate during the 4th quarter worth approximately $57,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Jesse E. Merten sold 40,102 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the sale, the chief financial officer now directly owns 18,115 shares in the company, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company's stock.

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Allstate Trading Up 0.4 %

Allstate stock traded up $0.84 during midday trading on Tuesday, reaching $208.14. The stock had a trading volume of 1,064,567 shares, compared to its average volume of 1,503,058. The stock has a market capitalization of $55.16 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The stock's 50-day simple moving average is $194.25 and its 200 day simple moving average is $193.27. The Allstate Co. has a twelve month low of $156.66 and a twelve month high of $212.91.

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

Allstate announced that its board has initiated a share repurchase plan on Wednesday, February 26th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Allstate Increases Dividend

The firm 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 $1.00 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.00 annualized dividend and a dividend yield of 1.92%. This is a positive change from Allstate's previous quarterly dividend of $0.92. Allstate's dividend payout ratio is presently 23.54%.

Analyst Ratings Changes

A number of research firms recently issued reports on ALL. Barclays reduced their target price on Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company increased 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. Evercore ISI raised shares of Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. 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 research note on Tuesday, February 11th. Finally, Piper Sandler upped their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $217.94.

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.