Millstone Evans Group LLC Makes New $272,000 Investment in The Allstate Co. (NYSE:ALL)

Millstone Evans Group LLC purchased a new position in shares of The Allstate Co. (NYSE:ALL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,413 shares of the insurance provider's stock, valued at approximately $272,000.

A number of other hedge funds have also bought and sold shares of ALL. Apella Capital LLC lifted its holdings in Allstate by 1.9% during the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider's stock worth $623,000 after buying an additional 60 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Allstate by 4.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider's stock valued at $252,000 after acquiring an additional 62 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in Allstate by 2.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider's stock worth $571,000 after purchasing an additional 62 shares during the last quarter. Mather Group LLC. boosted its holdings in Allstate by 1.7% in the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider's stock worth $697,000 after purchasing an additional 62 shares during the period. Finally, Angeles Wealth Management LLC increased its stake in Allstate by 4.6% during the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider's stock valued at $270,000 after purchasing an additional 62 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ALL shares. Wells Fargo & Company raised their price target on shares of Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 14th. Piper Sandler raised their target price on shares of Allstate from $206.00 to $244.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods increased their price target on Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th. Finally, Barclays reduced their price objective on Allstate from $187.00 to $183.00 and set an "underweight" rating for the company in a research report on Monday, January 6th. One research 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 company. According to data from MarketBeat, Allstate has an average rating of "Moderate Buy" and a consensus price target of $217.94.

Allstate Price Performance

Allstate stock traded up $1.04 during trading hours on Wednesday, hitting $209.16. 1,086,710 shares of the company traded hands, compared to its average volume of 1,495,541. The Allstate Co. has a 1-year low of $156.66 and a 1-year high of $212.91. The firm has a market cap of $55.43 billion, a P/E ratio of 12.31, a P/E/G ratio of 1.01 and a beta of 0.47. The firm's 50-day simple moving average is $194.67 and its two-hundred day simple moving average is $193.43. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL - Get Free Report) last posted 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 net margin of 7.28% and a return on equity of 28.20%. As a group, analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate announced that its board has approved a share repurchase plan 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 plans are typically a sign that the company's management believes its shares are undervalued.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.00 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 1.91%. Allstate's dividend payout ratio (DPR) is currently 23.54%.

Allstate 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.