The Allstate Co. (NYSE:ALL) Shares Purchased by National Pension Service

National Pension Service raised its holdings in shares of The Allstate Co. (NYSE:ALL) by 69.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 708,098 shares of the insurance provider’s stock after purchasing an additional 290,858 shares during the quarter. National Pension Service owned 0.27% of Allstate worth $136,514,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ALL. FSA Wealth Management LLC acquired a new stake in Allstate during the 3rd quarter valued at approximately $26,000. Catalyst Capital Advisors LLC acquired a new stake in Allstate during the 3rd quarter valued at approximately $29,000. Peoples Bank KS acquired a new stake in Allstate during the 4th quarter valued at approximately $49,000. Stonebridge Financial Group LLC acquired a new stake in Allstate during the 4th quarter valued at approximately $53,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Allstate in the 4th quarter worth approximately $57,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction 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 of the company’s stock, valued at $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Morgan Stanley lifted their target price on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Jefferies Financial Group lifted their target price on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Piper Sandler lifted 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, Keefe, Bruyette & Woods lifted 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and an average price target of $217.94.

Allstate Stock Down 1.1 %

Shares of Allstate stock opened at $188.35 on Thursday. The business’s fifty day moving average price is $190.05 and its two-hundred day moving average price is $190.68. 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 company has a market capitalization of $49.87 billion, a P/E ratio of 11.09, a PEG ratio of 1.01 and a beta of 0.52. The Allstate Co. has a 1-year low of $153.87 and a 1-year high of $209.88.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share 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, research analysts forecast that The Allstate Co. will post 18.74 EPS for the current year.

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

Allstate Increases Dividend

The firm 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 dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.12%. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is presently 21.66%.

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.