Magnetar Financial LLC Sells 10,936 Shares of The Allstate Co. (NYSE:ALL)

Magnetar Financial LLC lowered its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 65.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,743 shares of the insurance provider's stock after selling 10,936 shares during the quarter. Magnetar Financial LLC's holdings in Allstate were worth $1,107,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ALL. Strategic Financial Concepts LLC increased its holdings in shares of Allstate by 15,062.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider's stock worth $215,757,000 after purchasing an additional 1,111,748 shares during the period. National Pension Service grew its holdings in shares of Allstate by 69.7% during the 4th quarter. National Pension Service now owns 708,098 shares of the insurance provider's stock worth $136,514,000 after purchasing an additional 290,858 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Allstate by 22,981.9% during the fourth quarter. Proficio Capital Partners LLC now owns 269,135 shares of the insurance provider's stock valued at $51,887,000 after purchasing an additional 267,969 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Allstate by 291.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider's stock valued at $67,528,000 after purchasing an additional 265,213 shares during the period. Finally, Prana Capital Management LP raised its stake in shares of Allstate by 539.9% in the third quarter. Prana Capital Management LP now owns 273,655 shares of the insurance provider's stock valued at $51,899,000 after purchasing an additional 230,893 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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Allstate Price Performance

Shares of Allstate stock traded up $0.18 during trading on Monday, reaching $206.65. The company's stock had a trading volume of 675,538 shares, compared to its average volume of 1,959,214. The Allstate Co. has a one year low of $156.66 and a one year high of $212.91. The stock has a 50-day moving average price of $193.75 and a two-hundred day moving average price of $193.12. 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 stock has a market capitalization of $54.77 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (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%. As a group, sell-side analysts anticipate that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.00 dividend. This is a boost from Allstate's previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 1.94%. Allstate's dividend payout ratio (DPR) is currently 23.54%.

Insider Buying and Selling

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now owns 18,115 shares of the company's stock, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Evercore ISI upgraded shares of Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. Wells Fargo & Company lifted their target price 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. Barclays dropped their price target on shares of Allstate from $187.00 to $183.00 and set an "underweight" rating for the company in a research report on Monday, January 6th. Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Finally, Piper Sandler upped their price objective on Allstate from $206.00 to $244.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.