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

South Street Advisors LLC reduced its stake in The Allstate Co. (NYSE:ALL) by 42.1% in the 4th quarter, Holdings Channel reports. The firm owned 1,400 shares of the insurance provider’s stock after selling 1,020 shares during the quarter. South Street Advisors LLC’s holdings in Allstate were worth $270,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Apella Capital LLC grew its stake in shares of Allstate by 1.9% during the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock valued at $623,000 after acquiring an additional 60 shares in the last quarter. Avior Wealth Management LLC grew its stake in shares of Allstate by 4.9% during the third quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider’s stock valued at $252,000 after acquiring an additional 62 shares in the last quarter. Perigon Wealth Management LLC grew its stake in shares of Allstate by 2.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock valued at $571,000 after acquiring an additional 62 shares in the last quarter. Mather Group LLC. grew its stake in shares of Allstate by 1.7% during the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock valued at $697,000 after acquiring an additional 62 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its stake in shares of Allstate by 4.6% during the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock valued at $270,000 after acquiring an additional 62 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of Allstate stock opened at $210.49 on Tuesday. The company has a 50 day moving average of $192.22 and a 200-day moving average of $192.63. The Allstate Co. has a 1-year low of $156.66 and a 1-year high of $211.15. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The company has a market cap of $55.79 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47.

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 the consensus estimate 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 forecast that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

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

Allstate Increases Dividend

The business 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 $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.90%. This is a boost from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. Allstate’s dividend payout ratio (DPR) is presently 23.54%.

Insiders Place Their Bets

In related news, CFO Jesse E. Merten sold 40,102 shares of the firm’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 transaction, the chief financial officer now directly 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ALL shares. Keefe, Bruyette & Woods raised their target price on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Piper Sandler increased their price target on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company raised their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.