Knights of Columbus Asset Advisors LLC Sells 8,987 Shares of The Allstate Co. (NYSE:ALL)

Knights of Columbus Asset Advisors LLC lessened its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 16.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,077 shares of the insurance provider's stock after selling 8,987 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Allstate were worth $9,076,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. VSM Wealth Advisory LLC bought a new position in Allstate in the 4th quarter worth about $25,000. FSA Wealth Management LLC purchased a new stake in shares of Allstate during the third quarter valued at approximately $26,000. Twin Tree Management LP bought a new stake in shares of Allstate during the fourth quarter valued at approximately $27,000. Vision Financial Markets LLC purchased a new position in Allstate in the 4th quarter worth approximately $29,000. Finally, Hopwood Financial Services Inc. bought a new stake in shares of Allstate in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

Allstate stock traded up $0.18 during midday trading on Tuesday, hitting $207.48. The stock had a trading volume of 296,714 shares, compared to its average volume of 1,503,058. The company has a market capitalization of $54.99 billion, a PE ratio of 12.22, 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. The firm's fifty day moving average is $194.25 and its two-hundred day moving average is $193.27. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

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Allstate (NYSE:ALL - Get Free Report) last released its earnings results 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, research analysts forecast that The Allstate Co. will post 18.74 EPS for the current year.

Allstate declared that its board has approved a share repurchase program on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are often an indication 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. Investors of record on Monday, March 10th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Allstate's previous quarterly dividend of $0.92. Allstate's dividend payout ratio (DPR) is 23.54%.

Insiders Place Their Bets

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 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 represents a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $235.00 to $240.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Piper Sandler boosted their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Barclays dropped their target price 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. Finally, Evercore ISI upgraded shares of Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. One 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $217.94.

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.