Mainstream Capital Management LLC Buys Shares of 300 The Allstate Co. (NYSE:ALL)

Mainstream Capital Management LLC bought a new stake in The Allstate Co. (NYSE:ALL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 300 shares of the insurance provider’s stock, valued at approximately $58,000.

A number of other institutional investors also recently made changes to their positions in ALL. Strategic Financial Concepts LLC raised its position in shares of Allstate by 15,062.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock valued at $215,757,000 after purchasing an additional 1,111,748 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in shares of Allstate in the 3rd quarter valued at approximately $77,819,000. Los Angeles Capital Management LLC raised its position in shares of Allstate by 688.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 460,282 shares of the insurance provider’s stock valued at $87,292,000 after purchasing an additional 401,901 shares in the last quarter. National Pension Service raised its position in shares of Allstate by 69.7% in the 4th quarter. National Pension Service now owns 708,098 shares of the insurance provider’s stock valued at $136,514,000 after purchasing an additional 290,858 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Allstate by 22,981.9% in the 4th quarter. Proficio Capital Partners LLC now owns 269,135 shares of the insurance provider’s stock valued at $51,887,000 after purchasing an additional 267,969 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Trading Up 1.4 %

Shares of ALL stock opened at $201.87 on Tuesday. 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 1 year low of $153.87 and a 1 year high of $209.88. The stock has a fifty day moving average of $190.43 and a two-hundred day moving average of $191.27. The firm has a market capitalization of $53.50 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52.

Allstate (NYSE:ALL) last announced its quarterly 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 return on equity of 28.20% and a net margin of 7.28%. As a group, research analysts expect that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 yield of 1.98%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is 23.54%.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their price target on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Morgan Stanley boosted their price target on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods boosted their price target on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a report on Monday. Finally, Jefferies Financial Group boosted their price target on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Insiders Place Their Bets

In other news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction on Monday, February 10th. The stock was 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. This represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by insiders.

Allstate Company 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.