The Allstate Co. (NYSE:ALL) Position Raised by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its position in shares of The Allstate Co. (NYSE:ALL) by 4.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,505 shares of the insurance provider’s stock after acquiring an additional 63 shares during the period. EverSource Wealth Advisors LLC’s holdings in Allstate were worth $290,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ALL. FSA Wealth Management LLC acquired a new stake in shares of Allstate in the third quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new stake in Allstate in the 4th quarter valued at approximately $29,000. Peoples Bank KS acquired a new stake in Allstate in the 4th quarter valued at approximately $49,000. Stonebridge Financial Group LLC bought a new stake in Allstate during the 4th quarter valued at $53,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Allstate in the fourth quarter worth $57,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Piper Sandler upped their price target 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. Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Barclays cut their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company lifted their price target on 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 given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Stock Up 2.8 %

NYSE:ALL opened at $207.68 on Friday. The business’s fifty day moving average price is $191.72 and its 200 day moving average price is $192.43. The firm has a market capitalization of $55.04 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.01 and a beta of 0.47. 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 1-year low of $156.66 and a 1-year high of $209.88.

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

Allstate announced that its Board of Directors has approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 1.93%. This is a positive change from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio (DPR) is 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.