Personal CFO Solutions LLC Acquires New Holdings in The Allstate Co. (NYSE:ALL)

Personal CFO Solutions LLC purchased a new position in shares of The Allstate Co. (NYSE:ALL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,772 shares of the insurance provider's stock, valued at approximately $342,000.

A number of other large investors have also modified their holdings of ALL. FSA Wealth Management LLC acquired a new position in shares of Allstate during the third quarter valued at $26,000. Vision Financial Markets LLC acquired a new position in Allstate during the 4th quarter valued at about $29,000. Peoples Bank KS acquired a new position in Allstate during the 4th quarter valued at about $49,000. Stonebridge Financial Group LLC bought a new stake in shares of Allstate during the 4th quarter worth about $53,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Allstate in the 4th quarter worth approximately $57,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on ALL. Argus raised Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods lifted their target price on Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. The Goldman Sachs Group boosted their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Piper Sandler raised their price objective 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, Wells Fargo & Company increased their target price on shares of Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $217.94.

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Allstate Stock Up 1.9 %

NYSE ALL traded up $3.75 during trading on Thursday, reaching $202.00. 1,674,141 shares of the company's stock were exchanged, compared to its average volume of 1,919,515. 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 fifty-two week low of $156.66 and a fifty-two week high of $209.88. The company's fifty day simple moving average is $191.39 and its 200-day simple moving average is $192.21. The firm has a market capitalization of $53.54 billion, a PE ratio of 11.89, a P/E/G ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, topping 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%. Sell-side analysts predict that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The company also recently disclosed 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. This represents a $4.00 annualized dividend and a dividend yield of 1.98%. This is a positive change from Allstate's previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Monday, March 10th. Allstate's dividend payout ratio (DPR) is currently 23.54%.

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

Insider Activity at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the firm's stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company's stock.

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.