Atria Investments Inc Grows Holdings in The Allstate Co. (NYSE:ALL)

Atria Investments Inc grew its stake in The Allstate Co. (NYSE:ALL) by 4.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 18,357 shares of the insurance provider’s stock after acquiring an additional 762 shares during the period. Atria Investments Inc’s holdings in Allstate were worth $3,539,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. FSA Wealth Management LLC purchased a new stake in Allstate during the 3rd quarter worth approximately $26,000. Peoples Bank KS purchased a new stake in Allstate during the 4th quarter worth approximately $49,000. Stonebridge Financial Group LLC purchased a new stake in Allstate during the 4th quarter worth approximately $53,000. Golden State Wealth Management LLC purchased a new stake in Allstate during the 4th quarter worth approximately $57,000. Finally, Transamerica Financial Advisors Inc. purchased a new stake in Allstate during the 3rd quarter worth approximately $58,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler upped their target price 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. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Barclays dropped 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. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company increased their price objective on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Trading Up 1.7 %

Shares of Allstate stock opened at $200.87 on Friday. The stock has a market cap of $53.24 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.01 and a beta of 0.47. The company has a fifty day simple moving average of $190.76 and a 200-day simple moving average of $191.73. 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 $155.59 and a 12-month high of $209.88.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates 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 forecast that The Allstate Co. will post 18.74 EPS for the current fiscal year.

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 buy up to 3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently declared 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 yield of 1.99%. This is a boost from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is currently 23.54%.

Allstate Company 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.