The Allstate Co. (NYSE:ALL) Shares Bought by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC raised its position in The Allstate Co. (NYSE:ALL) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,194 shares of the insurance provider’s stock after purchasing an additional 84 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Allstate were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. FSA Wealth Management LLC purchased a new stake in shares of Allstate in the 3rd quarter valued at approximately $26,000. Vision Financial Markets LLC purchased a new position in shares of Allstate in the 4th quarter valued at $29,000. Peoples Bank KS purchased a new position in shares of Allstate in the 4th quarter valued at $49,000. Stonebridge Financial Group LLC purchased a new position in shares of Allstate in the 4th quarter valued at $53,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Allstate in the 4th quarter valued at $57,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Up 1.7 %

Shares of NYSE ALL opened at $200.87 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The Allstate Co. has a 52 week low of $155.59 and a 52 week high of $209.88. The firm has a 50-day moving average price of $190.76 and a 200 day moving average price of $191.82. The stock has a market capitalization of $53.24 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL) last announced 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%. Equities research analysts anticipate that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate declared that its board has authorized a stock buyback plan on Wednesday, February 26th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management 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 issued a dividend of $1.00 per share. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.99%. The ex-dividend date is Monday, March 10th. Allstate’s dividend payout ratio (DPR) is 23.54%.

Insider Buying and Selling at Allstate

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 completion of the transaction, the chief financial officer now directly 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 SEC, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on ALL shares. Piper Sandler increased their target price 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. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Wells Fargo & Company raised 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. The Goldman Sachs Group raised their price objective on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Barclays lowered 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. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average 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.