AMG National Trust Bank Sells 5,171 Shares of The Allstate Co. (NYSE:ALL)

AMG National Trust Bank trimmed its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 36.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,122 shares of the insurance provider's stock after selling 5,171 shares during the period. AMG National Trust Bank's holdings in Allstate were worth $1,756,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of Allstate by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider's stock worth $109,605,000 after purchasing an additional 28,584 shares during the period. Ameritas Advisory Services LLC raised its holdings in shares of Allstate by 117.3% during the fourth quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider's stock worth $944,000 after acquiring an additional 2,643 shares in the last quarter. Hennessy Advisors Inc. boosted its position in Allstate by 6.9% during the fourth quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider's stock valued at $11,297,000 after purchasing an additional 3,800 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in Allstate by 10.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider's stock valued at $98,065,000 after purchasing an additional 48,382 shares in the last quarter. Finally, Artemis Investment Management LLP increased its position in Allstate by 33.3% in the 4th quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider's stock worth $77,413,000 after purchasing an additional 100,311 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ALL shares. Piper Sandler boosted their price target on Allstate from $206.00 to $244.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Barclays cut their price target 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. Keefe, Bruyette & Woods increased their target price on shares of Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 11th. Finally, The Goldman Sachs Group boosted their price target on Allstate from $209.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $217.94.

Allstate Stock Performance

Shares of ALL traded down $1.22 on Tuesday, reaching $197.52. 438,631 shares of the stock traded hands, compared to its average volume of 1,841,044. The stock's 50-day moving average price is $190.89 and its 200-day moving average price is $191.95. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The firm has a market cap of $52.35 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $209.88.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly 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 return on equity of 28.20% and a net margin of 7.28%. Equities analysts forecast that The Allstate Co. will post 18.74 EPS for the current fiscal 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 given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.03%. This is a positive change from Allstate's previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. Allstate's dividend payout ratio (DPR) is presently 23.54%.

Allstate declared that its board has authorized a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Insider Activity

In related news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction that occurred on 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 directly owns 18,115 shares in the company, valued at $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.80% of the company's stock.

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.