Blueshift Asset Management LLC Buys 3,405 Shares of The Allstate Co. (NYSE:ALL)

Blueshift Asset Management LLC boosted its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 103.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,688 shares of the insurance provider's stock after purchasing an additional 3,405 shares during the quarter. Blueshift Asset Management LLC's holdings in Allstate were worth $1,289,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. VSM Wealth Advisory LLC acquired a new position in Allstate in the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC acquired a new stake in Allstate in the third quarter worth $26,000. Twin Tree Management LP bought a new stake in Allstate in the 4th quarter valued at about $27,000. Vision Financial Markets LLC acquired a new position in Allstate during the 4th quarter valued at about $29,000. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $29,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Trading Up 0.5 %

NYSE:ALL traded up $1.04 on Monday, hitting $207.51. 1,240,824 shares of the stock were exchanged, compared to its average volume of 1,503,178. The company's 50-day moving average price is $194.25 and its 200 day moving average price is $193.27. The stock has a market capitalization of $55.00 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36.

Remove Ads

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 net margin of 7.28% and a return on equity of 28.20%. On average, equities research analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate declared that its Board of Directors has approved a share repurchase 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 usually an indication that the company's board believes its shares are undervalued.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.00 per share. The ex-dividend date is Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.93%. This is an increase from Allstate's previous quarterly dividend of $0.92. Allstate's dividend payout ratio (DPR) is currently 23.54%.

Insider Activity

In other news, CFO Jesse E. Merten sold 40,102 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $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 is available through this hyperlink. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. 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. Evercore ISI upgraded shares of Allstate from an "in-line" rating to an "outperform" rating in a research report on Wednesday, January 8th. Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Barclays dropped their target price on Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company boosted their price objective on Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 14th. One equities 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $217.94.

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.