The Allstate Co. (NYSE:ALL) Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its position in shares of The Allstate Co. (NYSE:ALL - Free Report) by 20.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,138,448 shares of the insurance provider's stock after selling 565,960 shares during the quarter. American Century Companies Inc. owned approximately 0.81% of Allstate worth $412,272,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. United Bank purchased a new position in shares of Allstate in the third quarter valued at $209,000. Prospera Financial Services Inc lifted its position in Allstate by 8.8% during the third quarter. Prospera Financial Services Inc now owns 2,389 shares of the insurance provider's stock valued at $453,000 after purchasing an additional 194 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 buying an additional 62 shares in the last quarter. Eagle Asset Management Inc. grew its position in Allstate by 38.0% in the third quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider's stock worth $2,067,000 after acquiring an additional 2,888 shares in the last quarter. Finally, Biltmore Family Office LLC raised its position in Allstate by 2.0% during the third quarter. Biltmore Family Office LLC now owns 6,710 shares of the insurance provider's stock valued at $1,279,000 after purchasing an additional 133 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

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Insider Activity at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 18,115 shares in the company, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Allstate Stock Up 0.5 %

ALL traded up $1.04 on Wednesday, reaching $209.16. The company's stock had a trading volume of 1,086,710 shares, compared to its average volume of 1,494,705. The stock has a 50 day moving average of $194.67 and a two-hundred day moving average of $193.43. The Allstate Co. has a fifty-two week low of $156.66 and a fifty-two week high of $212.91. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $55.43 billion, a price-to-earnings ratio of 12.31, 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 data 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%. As a group, analysts forecast that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Allstate Increases Dividend

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

Wall Street Analysts Forecast Growth

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