The Allstate Co. (NYSE:ALL) Stake Increased by Blueshift Asset Management LLC

Blueshift Asset Management LLC grew its position in shares of The Allstate Co. (NYSE:ALL) by 103.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,688 shares of the insurance provider’s stock after buying an additional 3,405 shares during the period. Blueshift Asset Management LLC’s holdings in Allstate were worth $1,289,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Apella Capital LLC increased its position in Allstate by 1.9% in the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock valued at $623,000 after acquiring an additional 60 shares during the period. Avior Wealth Management LLC boosted its position in shares of Allstate by 4.9% in the 3rd quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider’s stock valued at $252,000 after purchasing an additional 62 shares during the period. Perigon Wealth Management LLC increased its position in shares of Allstate by 2.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock worth $571,000 after acquiring an additional 62 shares in the last quarter. Mather Group LLC. raised its stake in Allstate by 1.7% during the 4th quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock valued at $697,000 after purchasing an additional 62 shares during the period. Finally, Angeles Wealth Management LLC lifted its stake in Allstate by 4.6% in the 4th quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock worth $270,000 after acquiring an additional 62 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

ALL opened at $204.77 on Thursday. The Allstate Co. has a 1 year low of $156.66 and a 1 year high of $211.15. The firm has a market cap 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 company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The stock’s 50 day simple moving average is $192.87 and its 200 day simple moving average is $192.82.

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

Allstate announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to buy up to 3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Allstate Increases Dividend

The business also recently disclosed 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. This is a boost from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s dividend payout ratio is 23.54%.

Insider Transactions at Allstate

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

Analyst Ratings Changes

ALL has been the topic of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Wells Fargo & Company lifted their price objective on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Barclays dropped their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Finally, Piper Sandler upped their price target on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Allstate 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.