The Allstate Co. (NYSE:ALL) Shares Bought by Ashton Thomas Securities LLC

Ashton Thomas Securities LLC raised its stake in The Allstate Co. (NYSE:ALL) by 118.6% during the 4th quarter, HoldingsChannel reports. The firm owned 2,625 shares of the insurance provider’s stock after acquiring an additional 1,424 shares during the period. Ashton Thomas Securities LLC’s holdings in Allstate were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. VSM Wealth Advisory LLC acquired a new position in Allstate in the 4th quarter valued at $25,000. FSA Wealth Management LLC acquired a new position in shares of Allstate during the third quarter worth about $26,000. Twin Tree Management LP purchased a new position in Allstate during the fourth quarter worth about $27,000. Vision Financial Markets LLC acquired a new stake in Allstate in the fourth quarter valued at about $29,000. Finally, Hopwood Financial Services Inc. purchased a new stake in Allstate in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insiders Place Their Bets

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. 1.80% of the stock is owned by corporate insiders.

Allstate Price Performance

Allstate stock opened at $208.14 on Wednesday. The stock has a market capitalization of $55.16 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $212.91. 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 firm’s 50-day moving average is $194.67 and its two-hundred day moving average is $193.43.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict 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 share buyback plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.92%. Allstate’s dividend payout ratio is 23.54%.

Analyst Upgrades and Downgrades

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