Wakefield Asset Management LLLP Makes New Investment in The Allstate Co. (NYSE:ALL)

Wakefield Asset Management LLLP purchased a new position in shares of The Allstate Co. (NYSE:ALL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 20,559 shares of the insurance provider’s stock, valued at approximately $3,964,000. Allstate accounts for about 1.3% of Wakefield Asset Management LLLP’s investment portfolio, making the stock its 19th biggest holding.

Several other institutional investors have also modified their holdings of ALL. Chicago Partners Investment Group LLC boosted its holdings in shares of Allstate by 1.3% in the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock valued at $893,000 after buying an additional 59 shares during the period. Carmichael Hill & Associates Inc. lifted its position in Allstate by 15.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock valued at $87,000 after acquiring an additional 60 shares in the last quarter. Apella Capital LLC boosted its stake in Allstate by 1.9% in the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock worth $623,000 after purchasing an additional 60 shares during the period. Avior Wealth Management LLC raised its stake in shares of Allstate by 4.9% in the 3rd quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider’s stock valued at $252,000 after purchasing an additional 62 shares during the period. Finally, Perigon Wealth Management LLC lifted its holdings in shares of Allstate by 2.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock valued at $571,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ALL shares. Wells Fargo & Company boosted their target price on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Jefferies Financial Group raised their target price on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Piper Sandler lifted their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. The Goldman Sachs Group lifted their target price on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods increased their price target on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Insider Transactions at Allstate

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

Allstate Price Performance

ALL stock opened at $195.01 on Friday. The Allstate Co. has a 1 year low of $153.87 and a 1 year high of $209.88. 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 stock has a market cap of $51.68 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 1.01 and a beta of 0.52. The company has a 50 day simple moving average of $190.15 and a 200 day simple moving average of $190.71.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating 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%. Research analysts anticipate that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.05%. This is a positive change 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 (DPR) is presently 21.66%.

Allstate announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership 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.