1,260 Shares in The Allstate Co. (NYSE:ALL) Bought by Holderness Investments Co.

Holderness Investments Co. bought a new position in The Allstate Co. (NYSE:ALL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,260 shares of the insurance provider’s stock, valued at approximately $243,000.

Other large investors have also recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC acquired a new position in shares of Allstate during the fourth quarter worth about $25,000. FSA Wealth Management LLC acquired a new position in Allstate during the 3rd quarter worth approximately $26,000. Twin Tree Management LP bought a new position in shares of Allstate during the 4th quarter worth approximately $27,000. Vision Financial Markets LLC acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $29,000. Finally, Hopwood Financial Services Inc. bought a new stake in shares of Allstate in the fourth quarter worth $29,000. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ALL. Piper Sandler raised their target price on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upped their target price on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods raised their price target on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Barclays dropped their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. Finally, Argus raised Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Insider Activity

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the sale, the chief financial officer now owns 18,115 shares in the company, valued at $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

Allstate Stock Down 1.7 %

Shares of ALL opened at $206.60 on Friday. The firm’s 50-day simple moving average is $193.75 and its 200 day simple moving average is $193.07. 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 firm has a market cap of $54.76 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91.

Allstate (NYSE:ALL) last announced its earnings results 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%. On average, analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued 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 1.94%. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio (DPR) is currently 23.54%.

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

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.