Adams Diversified Equity Fund Inc. Buys 19,200 Shares of The Allstate Co. (NYSE:ALL)

Adams Diversified Equity Fund Inc. lifted its holdings in The Allstate Co. (NYSE:ALL - Free Report) by 18.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,700 shares of the insurance provider's stock after purchasing an additional 19,200 shares during the period. Allstate comprises 0.9% of Adams Diversified Equity Fund Inc.'s holdings, making the stock its 27th biggest holding. Adams Diversified Equity Fund Inc.'s holdings in Allstate were worth $23,848,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Financial Concepts LLC increased its holdings in shares of Allstate by 15,062.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider's stock valued at $215,757,000 after buying an additional 1,111,748 shares in the last quarter. National Pension Service grew its holdings in shares of Allstate by 69.7% in 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 during the last quarter. Proficio Capital Partners LLC raised its position in shares of Allstate by 22,981.9% during the fourth quarter. Proficio Capital Partners LLC now owns 269,135 shares of the insurance provider's stock worth $51,887,000 after purchasing an additional 267,969 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Allstate by 291.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider's stock valued at $67,528,000 after purchasing an additional 265,213 shares during the last quarter. Finally, Prana Capital Management LP boosted its position in shares of Allstate by 539.9% in the 3rd quarter. Prana Capital Management LP now owns 273,655 shares of the insurance provider's stock valued at $51,899,000 after purchasing an additional 230,893 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Remove Ads

Insider Buying and Selling at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 18,115 shares of the company's stock, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Allstate Stock Down 1.7 %

Shares of ALL traded down $3.58 during mid-day trading on Friday, hitting $206.60. 2,886,777 shares of the company's stock were exchanged, compared to its average volume of 1,504,232. 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 Allstate Co. has a twelve month low of $156.66 and a twelve month high of $212.91. The firm has a fifty day moving average of $193.75 and a two-hundred day moving average of $193.09. The stock has a market cap of $54.76 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. On average, sell-side analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate announced that its board has initiated a share buyback plan on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Allstate Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ALL shares. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $235.00 to $240.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Piper Sandler raised their price objective on shares of Allstate from $206.00 to $244.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. Barclays lowered their price objective on shares of Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company increased their target price on Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Allstate presently has a consensus rating of "Moderate Buy" and a consensus 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.