Corient Private Wealth LLC Grows Holdings in The Allstate Co. (NYSE:ALL)

Corient Private Wealth LLC raised its position in shares of The Allstate Co. (NYSE:ALL - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 243,377 shares of the insurance provider's stock after purchasing an additional 5,654 shares during the period. Corient Private Wealth LLC owned about 0.09% of Allstate worth $46,921,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. FSA Wealth Management LLC purchased a new stake in Allstate in the third quarter worth about $26,000. Vision Financial Markets LLC bought a new stake in shares of Allstate in the 4th quarter valued at about $29,000. Hopwood Financial Services Inc. bought a new stake in shares of Allstate in the 4th quarter valued at about $29,000. Peoples Bank KS purchased a new stake in shares of Allstate in the 4th quarter worth approximately $49,000. Finally, Stonebridge Financial Group LLC purchased a new position in Allstate during the fourth quarter valued at approximately $53,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods upped their price objective on Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Evercore ISI upgraded Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. Wells Fargo & Company increased their price target on shares of Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 14th. Finally, Barclays cut their price objective on shares of Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $217.94.

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Insider Buying and Selling

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 of the company's stock, valued at $3,378,990.95. This trade represents 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 at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Allstate Stock Performance

ALL stock traded down $3.58 during midday trading on Friday, reaching $206.60. The stock had a trading volume of 2,886,576 shares, compared to its average volume of 1,506,698. 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 firm has a fifty day simple moving average of $193.24 and a two-hundred day simple moving average of $192.94. The stock has a market cap of $54.76 billion, a PE ratio of 12.16, a P/E/G ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $212.91.

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 (EPS) for the quarter, topping 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%. As a group, equities research analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

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 issued a $1.00 dividend. This is an increase from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Monday, March 10th. Allstate's dividend payout ratio is 23.54%.

Allstate announced that its board has approved a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

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.