The Allstate Co. (NYSE:ALL) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its position in shares of The Allstate Co. (NYSE:ALL) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,084 shares of the insurance provider’s stock after purchasing an additional 112 shares during the period. Farther Finance Advisors LLC’s holdings in Allstate were worth $402,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. United Bank acquired a new stake in shares of Allstate in the 3rd quarter valued at approximately $209,000. OneDigital Investment Advisors LLC lifted its holdings in Allstate by 6.9% in the third quarter. OneDigital Investment Advisors LLC now owns 4,294 shares of the insurance provider’s stock valued at $814,000 after acquiring an additional 278 shares during the period. CIBC Asset Management Inc boosted its position in shares of Allstate by 8.3% during the 3rd quarter. CIBC Asset Management Inc now owns 38,751 shares of the insurance provider’s stock worth $7,349,000 after purchasing an additional 2,984 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Allstate by 3.4% during the 3rd quarter. Natixis Advisors LLC now owns 248,240 shares of the insurance provider’s stock worth $47,078,000 after purchasing an additional 8,107 shares during the period. Finally, Mount Lucas Management LP increased its holdings in shares of Allstate by 2.8% in the 3rd quarter. Mount Lucas Management LP now owns 3,229 shares of the insurance provider’s stock valued at $612,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Transactions at Allstate

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

Allstate Stock Up 1.4 %

Shares of NYSE ALL opened at $210.49 on Tuesday. The firm has a market cap of $55.79 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. 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 1 year low of $156.66 and a 1 year high of $211.15. The firm’s 50 day moving average price is $192.22 and its 200 day moving average price is $192.63.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Allstate Increases Dividend

The business also recently disclosed 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. 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 1.90%. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is currently 23.54%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALL. Wells Fargo & Company upped their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price target on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Piper Sandler lifted their price objective on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Argus raised Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Finally, Barclays dropped their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price 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.