New York Life Investment Management LLC Purchases 226 Shares of The Allstate Co. (NYSE:ALL)

New York Life Investment Management LLC raised its position in shares of The Allstate Co. (NYSE:ALL) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,228 shares of the insurance provider’s stock after acquiring an additional 226 shares during the quarter. New York Life Investment Management LLC’s holdings in Allstate were worth $7,563,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ALL. FSA Wealth Management LLC bought a new stake in Allstate during the third quarter valued at $26,000. Catalyst Capital Advisors LLC bought a new position in shares of Allstate during the 3rd quarter worth about $29,000. Peoples Bank KS bought a new position in shares of Allstate during the 4th quarter worth about $49,000. Stonebridge Financial Group LLC bought a new position in shares of Allstate during the 4th quarter worth about $53,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Allstate during the 4th quarter worth about $57,000. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 2.1 %

NYSE:ALL opened at $199.20 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The firm has a market cap of $52.79 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The Allstate Co. has a 52 week low of $153.87 and a 52 week high of $209.88. The firm has a 50-day moving average price of $190.26 and a two-hundred day moving average price of $190.90.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating the consensus estimate 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 analysts expect that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to buy up to 3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.00 dividend. This is a positive change from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 2.01%. Allstate’s dividend payout ratio (DPR) is 21.66%.

Insider Buying and Selling at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction that occurred 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 owns 18,115 shares in the company, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ALL shares. Wells Fargo & Company increased their price objective on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Barclays cut 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. Morgan Stanley increased their price objective on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Jefferies Financial Group increased their price objective on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Piper Sandler raised their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

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.