Insight 2811 Inc. Trims Stake in The Allstate Co. (NYSE:ALL)

Insight 2811 Inc. lessened its holdings in shares of The Allstate Co. (NYSE:ALL) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,040 shares of the insurance provider’s stock after selling 109 shares during the quarter. Insight 2811 Inc.’s holdings in Allstate were worth $393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of ALL. VSM Wealth Advisory LLC purchased a new position in shares of Allstate during the 4th quarter valued at about $25,000. FSA Wealth Management LLC purchased a new position in shares of Allstate in the 3rd quarter worth $26,000. Twin Tree Management LP purchased a new position in Allstate in the fourth quarter worth about $27,000. Vision Financial Markets LLC purchased a new position in shares of Allstate in the 4th quarter worth approximately $29,000. Finally, Hopwood Financial Services Inc. bought a new position in Allstate during the fourth quarter valued at $29,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Trading Up 0.5 %

NYSE:ALL opened at $207.51 on Tuesday. The firm has a 50 day moving average of $194.25 and a 200 day moving average of $193.27. 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 $156.66 and a 52 week high of $212.91. The stock has a market capitalization of $55.00 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping 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, sell-side 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 authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.00 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.93%. Allstate’s payout ratio is presently 23.54%.

Insider Activity

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ALL shares. 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 note on Tuesday, January 14th. Piper Sandler increased their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Barclays lowered 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. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.