Amundi Sells 126,568 Shares of The Allstate Co. (NYSE:ALL)

Amundi lowered its stake in shares of The Allstate Co. (NYSE:ALL) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,468,374 shares of the insurance provider’s stock after selling 126,568 shares during the period. Amundi owned 0.55% of Allstate worth $281,634,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in Allstate during the 3rd quarter valued at $26,000. Vision Financial Markets LLC acquired a new stake in Allstate during the 4th quarter valued at $29,000. Peoples Bank KS acquired a new stake in Allstate during the 4th quarter valued at $49,000. Stonebridge Financial Group LLC acquired a new stake in Allstate during the 4th quarter valued at $53,000. Finally, Golden State Wealth Management LLC acquired a new stake in Allstate during the 4th quarter valued at $57,000. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction dated 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 transaction, the chief financial officer now owns 18,115 shares in the company, valued at $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

Allstate Stock Up 1.7 %

Shares of NYSE ALL opened at $200.87 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 Allstate Co. has a 52 week low of $155.59 and a 52 week high of $209.88. The stock has a market capitalization of $53.24 billion, a P/E ratio of 11.82, a PEG ratio of 1.01 and a beta of 0.47. The stock’s fifty day moving average is $190.76 and its 200 day moving average is $191.73.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 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%. Sell-side analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its board has initiated a share buyback plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Allstate Increases Dividend

The firm 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 $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is currently 23.54%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ALL shares. Wells Fargo & Company raised their price target on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods raised their price target on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Barclays dropped their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Finally, Piper Sandler lifted their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.