10,691 Shares in The Allstate Co. (NYSE:ALL) Purchased by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR acquired a new position in The Allstate Co. (NYSE:ALL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,691 shares of the insurance provider’s stock, valued at approximately $2,061,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in Allstate in the third quarter worth about $26,000. Twin Tree Management LP acquired a new stake in Allstate in the fourth quarter worth about $27,000. Vision Financial Markets LLC acquired a new stake in Allstate in the fourth quarter worth about $29,000. Hopwood Financial Services Inc. acquired a new stake in Allstate in the fourth quarter worth about $29,000. Finally, Peoples Bank KS acquired a new stake in Allstate in the fourth quarter worth about $49,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Allstate

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

Wall Street Analyst Weigh In

ALL has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Wells Fargo & Company boosted their target price on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Barclays decreased 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. Piper Sandler boosted their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $217.94.

Allstate Trading Down 0.3 %

NYSE ALL opened at $204.77 on Thursday. The stock has a market capitalization of $54.27 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.01 and a beta of 0.47. The stock’s 50 day moving average price is $192.87 and its two-hundred day moving average price is $192.82. 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 $156.66 and a 52 week high of $211.15.

Allstate (NYSE:ALL) last released its earnings results 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 return on equity of 28.20% and a net margin of 7.28%. As a group, analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Allstate Increases Dividend

The company 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 $1.00 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 1.95%. Allstate’s payout ratio is presently 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.