The Allstate Co. (NYSE:ALL) Shares Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH boosted its position in The Allstate Co. (NYSE:ALL) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,339 shares of the insurance provider’s stock after buying an additional 5,086 shares during the period. Erste Asset Management GmbH’s holdings in Allstate were worth $11,307,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Apella Capital LLC lifted its position in Allstate by 1.9% in the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock valued at $623,000 after purchasing an additional 60 shares during the period. Avior Wealth Management LLC grew its holdings in Allstate by 4.9% during the third quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider’s stock worth $252,000 after acquiring an additional 62 shares during the period. Perigon Wealth Management LLC boosted its position in shares of Allstate by 2.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock worth $571,000 after purchasing an additional 62 shares in the last quarter. Mather Group LLC. grew its stake in shares of Allstate by 1.7% during the 4th quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock worth $697,000 after purchasing an additional 62 shares during the period. Finally, Angeles Wealth Management LLC lifted its stake in shares of Allstate by 4.6% in the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock valued at $270,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Shares of NYSE ALL opened at $202.00 on Friday. The company has a market capitalization of $53.54 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 1-year low of $156.66 and a 1-year high of $209.88. The business has a 50-day moving average of $191.39 and a 200-day moving average of $192.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40.

Allstate (NYSE:ALL) last released its quarterly 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 net margin of 7.28% and a return on equity of 28.20%. On average, equities analysts anticipate that The Allstate Co. will post 18.74 EPS for the current fiscal year.

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

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.98%. This is a positive change from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s payout ratio is presently 23.54%.

Insider Activity at Allstate

In other Allstate 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 value of $7,480,226.06. Following the transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, 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 the SEC website. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ALL shares. Wells Fargo & Company lifted their price objective on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Piper Sandler increased their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Barclays cut their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods raised their price target on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average price target 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.