Envestnet Portfolio Solutions Inc. Buys 2,566 Shares of The Allstate Co. (NYSE:ALL)

Envestnet Portfolio Solutions Inc. raised its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,614 shares of the insurance provider's stock after purchasing an additional 2,566 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Allstate were worth $10,143,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALL. United Bank bought a new position in Allstate in the 3rd quarter worth approximately $209,000. Entropy Technologies LP purchased a new stake in shares of Allstate during the third quarter worth $284,000. Harbour Investments Inc. boosted its holdings in shares of Allstate by 5.4% in the third quarter. Harbour Investments Inc. now owns 2,503 shares of the insurance provider's stock worth $475,000 after acquiring an additional 128 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Allstate by 4.1% in the third quarter. Oppenheimer & Co. Inc. now owns 12,552 shares of the insurance provider's stock valued at $2,380,000 after purchasing an additional 491 shares in the last quarter. Finally, Curi RMB Capital LLC bought a new stake in shares of Allstate during the 3rd quarter valued at $224,000. Institutional investors own 76.47% of the company's stock.

Insider Buying and Selling

In other news, CFO Jesse E. Merten sold 40,102 shares of the company's stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

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Allstate Price Performance

Shares of ALL stock traded up $5.33 during trading hours on Thursday, hitting $210.20. 2,542,646 shares of the company's stock were exchanged, compared to its average volume of 1,501,457. The company has a market capitalization of $55.71 billion, a PE ratio of 12.37, a PEG ratio of 1.01 and a beta of 0.47. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $212.96. The business's 50 day simple moving average is $192.87 and its 200-day simple moving average is $192.82.

Allstate (NYSE:ALL - Get Free Report) last issued 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 net margin of 7.28% and a return on equity of 28.20%. On average, equities research analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate declared that its board has approved a share repurchase plan on Wednesday, February 26th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.00 per share. The ex-dividend date is Monday, March 10th. This is a boost from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.90%. Allstate's dividend payout ratio is currently 23.54%.

Analysts Set New Price Targets

ALL has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, January 14th. Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Barclays lowered their target price 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. Piper Sandler boosted their price target on shares of Allstate from $206.00 to $244.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. Finally, Evercore ISI upgraded Allstate from an "in-line" rating to an "outperform" rating in a research report on Wednesday, January 8th. One investment 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.