Liberty Wealth Management LLC Has $387,000 Stock Position in The Allstate Co. (NYSE:ALL)

Liberty Wealth Management LLC lifted its stake in The Allstate Co. (NYSE:ALL) by 23.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,008 shares of the insurance provider’s stock after acquiring an additional 378 shares during the quarter. Liberty Wealth Management LLC’s holdings in Allstate were worth $387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ALL. United Bank acquired a new position in Allstate during the third quarter worth approximately $209,000. Ashton Thomas Securities LLC acquired a new position in Allstate during the third quarter worth approximately $228,000. Apollon Wealth Management LLC increased its position in Allstate by 2.7% during the third quarter. Apollon Wealth Management LLC now owns 5,901 shares of the insurance provider’s stock worth $1,119,000 after buying an additional 157 shares during the last quarter. Entropy Technologies LP acquired a new position in Allstate during the third quarter worth approximately $284,000. Finally, Harbour Investments Inc. increased its position in Allstate by 5.4% during the third quarter. Harbour Investments Inc. now owns 2,503 shares of the insurance provider’s stock worth $475,000 after buying an additional 128 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

Allstate stock opened at $202.25 on Wednesday. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $209.88. 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 business’s 50-day moving average price is $191.08 and its two-hundred day moving average price is $192.10. The stock has a market cap of $53.60 billion, a PE ratio of 11.90, a P/E/G ratio of 1.01 and a beta of 0.47.

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

Allstate declared that its board has authorized a stock buyback program on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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. The ex-dividend date is Monday, March 10th. This represents a $4.00 annualized dividend and a dividend yield of 1.98%. Allstate’s payout ratio is currently 23.54%.

Insider Activity

In other news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was 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. 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 through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Piper Sandler boosted their price objective on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their price objective on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Argus raised Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Finally, Barclays reduced their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.