Vestcor Inc Has $6.65 Million Stake in The Allstate Co. (NYSE:ALL)

Vestcor Inc increased its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 625.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,500 shares of the insurance provider's stock after buying an additional 29,747 shares during the quarter. Vestcor Inc's holdings in Allstate were worth $6,651,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Apella Capital LLC lifted its holdings in shares of Allstate by 1.9% during the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider's stock valued at $623,000 after acquiring an additional 60 shares during the period. Avior Wealth Management LLC increased 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 worth $252,000 after purchasing an additional 62 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in Allstate by 2.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider's stock valued at $571,000 after purchasing an additional 62 shares during the last quarter. Mather Group LLC. boosted its position in Allstate by 1.7% in the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider's stock valued at $697,000 after buying an additional 62 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its stake in Allstate by 4.6% during the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider's stock worth $270,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

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Insider Buying and Selling at Allstate

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

Allstate Trading Up 2.8 %

Shares of NYSE:ALL traded up $5.68 during midday trading on Friday, hitting $207.68. The company had a trading volume of 1,665,654 shares, compared to its average volume of 1,525,079. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $209.88. The firm has a fifty day simple moving average of $191.39 and a 200 day simple moving average of $192.21. The stock has a market cap of $55.04 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping 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%. On average, analysts predict that The Allstate Co. will post 18.74 EPS for the current year.

Allstate declared that its board has authorized a stock buyback 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 purchase up to 3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

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 issued 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 1.93%. This is a boost from Allstate's previous quarterly dividend of $0.92. Allstate's payout ratio is currently 23.54%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALL. Wells Fargo & Company lifted their target price on shares of Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 14th. Evercore ISI upgraded Allstate from an "in-line" rating to an "outperform" rating in a research report on Wednesday, January 8th. Barclays decreased 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. Piper Sandler lifted their price target on Allstate from $206.00 to $244.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Finally, Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average 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.