Norden Group LLC Invests $203,000 in The Allstate Co. (NYSE:ALL)

Norden Group LLC purchased a new stake in The Allstate Co. (NYSE:ALL) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,052 shares of the insurance provider’s stock, valued at approximately $203,000.

A number of other large investors have also recently bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in shares of Allstate by 7.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,972 shares of the insurance provider’s stock valued at $374,000 after purchasing an additional 141 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Allstate by 18.4% during the third quarter. Janney Montgomery Scott LLC now owns 51,032 shares of the insurance provider’s stock worth $9,678,000 after purchasing an additional 7,940 shares during the period. National Pension Service grew its position in Allstate by 28.8% in the 3rd quarter. National Pension Service now owns 417,240 shares of the insurance provider’s stock valued at $79,130,000 after buying an additional 93,357 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Allstate by 2.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 105,343 shares of the insurance provider’s stock valued at $19,978,000 after buying an additional 2,466 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in Allstate during the 3rd quarter worth $29,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of ALL opened at $199.65 on Thursday. The company has a 50-day moving average of $190.58 and a two-hundred day moving average of $191.47. The stock has a market cap of $52.91 billion, a P/E ratio of 11.75, a PEG ratio of 1.01 and a beta of 0.52. The Allstate Co. has a 12-month low of $154.76 and a 12-month high of $209.88. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) 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, research analysts predict that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid 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 dividend yield of 2.00%. This is a positive change from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio (DPR) is presently 23.54%.

Allstate announced that its board has approved a stock buyback program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ALL. Jefferies Financial Group lifted their target price on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. Piper Sandler lifted their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Wells Fargo & Company increased their target price on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods lifted their price target on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Argus upgraded Allstate from a “hold” rating to a “buy” rating in a research report on Monday. One equities 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

Insider Buying and Selling

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.

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.