The Allstate Co. (NYSE:ALL) Shares Sold by IFG Advisors LLC

IFG Advisors LLC reduced its position in shares of The Allstate Co. (NYSE:ALL) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,773 shares of the insurance provider’s stock after selling 95 shares during the quarter. IFG Advisors LLC’s holdings in Allstate were worth $342,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ALL. FSA Wealth Management LLC acquired a new stake in Allstate during the 3rd quarter valued at $26,000. Catalyst Capital Advisors LLC acquired a new stake in Allstate during the 3rd quarter valued at $29,000. Peoples Bank KS acquired a new stake in Allstate during the 4th quarter valued at $49,000. Stonebridge Financial Group LLC acquired a new stake in Allstate during the 4th quarter valued at $53,000. Finally, Golden State Wealth Management LLC acquired a new stake in Allstate during the 4th quarter valued at $57,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Up 2.1 %

ALL stock opened at $199.20 on Friday. 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 Allstate Co. has a 52-week low of $153.87 and a 52-week high of $209.88. The company has a 50-day moving average of $190.26 and a two-hundred day moving average of $191.04. The stock has a market capitalization of $52.79 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) 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%. As a group, equities research analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

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

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.01%. This is a boost from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s dividend payout ratio is 21.66%.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 18,115 shares in the company, valued at $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on ALL shares. Morgan Stanley boosted their target price on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their price target 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 upped their price target on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price target on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group upped their price target on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to 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.