Heritage Wealth Management Inc. Sells 414 Shares of The Allstate Co. (NYSE:ALL)

Heritage Wealth Management Inc. cut its stake in shares of The Allstate Co. (NYSE:ALL) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,700 shares of the insurance provider’s stock after selling 414 shares during the quarter. Allstate accounts for about 1.3% of Heritage Wealth Management Inc.’s portfolio, making the stock its 12th largest position. Heritage Wealth Management Inc.’s holdings in Allstate were worth $3,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new stake in shares of Allstate during the 3rd quarter valued at approximately $26,000. Catalyst Capital Advisors LLC bought a new stake in shares of Allstate during the 3rd quarter valued at approximately $29,000. Peoples Bank KS bought a new stake in shares of Allstate during the 4th quarter valued at approximately $49,000. Stonebridge Financial Group LLC bought a new stake in shares of Allstate during the 4th quarter valued at approximately $53,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Allstate during the 4th quarter valued at approximately $57,000. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALL. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. The Goldman Sachs Group boosted their target price on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. UBS Group boosted their target price on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group boosted their target price on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Piper Sandler boosted their target price on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $217.94.

Insider Activity at Allstate

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

Allstate Trading Up 2.1 %

NYSE:ALL opened at $199.20 on Friday. 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 52 week low of $153.87 and a 52 week high of $209.88. The firm’s fifty day moving average is $190.26 and its 200-day moving average is $191.04. The firm has a market cap of $52.79 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.01 and a beta of 0.52.

Allstate (NYSE:ALL) last released its 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%. Equities analysts expect that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is presently 21.66%.

Allstate declared that its board has authorized a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are 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.