The Allstate Co. (NYSE:ALL) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in The Allstate Co. (NYSE:ALL - Free Report) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 427,711 shares of the insurance provider's stock after selling 12,205 shares during the quarter. Thrivent Financial for Lutherans owned 0.16% of Allstate worth $82,466,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ALL. Strategic Financial Concepts LLC raised its position 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 acquiring an additional 1,111,748 shares in the last quarter. National Pension Service raised its position 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 acquiring an additional 290,858 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Allstate by 22,981.9% during the 4th quarter. Proficio Capital Partners LLC now owns 269,135 shares of the insurance provider's stock worth $51,887,000 after acquiring an additional 267,969 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Allstate by 291.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider's stock worth $67,528,000 after acquiring an additional 265,213 shares in the last quarter. Finally, Prana Capital Management LP raised its position in shares of Allstate by 539.9% during the 3rd quarter. Prana Capital Management LP now owns 273,655 shares of the insurance provider's stock worth $51,899,000 after acquiring an additional 230,893 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

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Allstate Stock Performance

Shares of NYSE:ALL traded down $3.58 during trading on Friday, reaching $206.60. The company had a trading volume of 2,886,777 shares, compared to its average volume of 1,504,232. The firm has a market capitalization of $54.76 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. 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 stock's fifty day moving average price is $193.75 and its 200 day moving average price is $193.09. The Allstate Co. has a fifty-two week low of $156.66 and a fifty-two week high of $212.91.

Allstate (NYSE:ALL - Get Free Report) last posted 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%. As a group, equities research analysts predict that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

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

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALL. Argus raised Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods lifted 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. Piper Sandler lifted their price target on Allstate from $206.00 to $244.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their price target on Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 14th. Finally, Evercore ISI raised Allstate from an "in-line" rating to an "outperform" rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has given 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.com, Allstate currently has a consensus rating of "Moderate Buy" and a consensus price target of $217.94.

Insider Activity at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the business's stock in a transaction on 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 sale, the chief financial officer now directly owns 18,115 shares in the company, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company's stock.

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.