Sound View Wealth Advisors Group LLC Buys 180 Shares of The Allstate Co. (NYSE:ALL)

Sound View Wealth Advisors Group LLC boosted its stake in The Allstate Co. (NYSE:ALL) by 15.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,337 shares of the insurance provider’s stock after acquiring an additional 180 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Allstate were worth $258,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Allstate by 1.1% in the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock valued at $2,190,758,000 after acquiring an additional 126,922 shares during the last quarter. Geode Capital Management LLC increased its holdings in Allstate by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock worth $1,178,164,000 after purchasing an additional 74,537 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Allstate by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,834,172 shares of the insurance provider’s stock valued at $353,610,000 after purchasing an additional 19,463 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Allstate by 15,062.3% during the fourth 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. Finally, FMR LLC grew its holdings in shares of Allstate by 11.8% during the third quarter. FMR LLC now owns 933,352 shares of the insurance provider’s stock worth $177,010,000 after purchasing an additional 98,179 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE:ALL opened at $199.00 on Tuesday. The firm has a market capitalization of $52.74 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.01 and a beta of 0.47. The Allstate Co. has a twelve month low of $156.45 and a twelve month high of $209.88. The company has a fifty day moving average of $190.89 and a 200-day moving average of $191.95. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL) last issued its quarterly earnings data 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%. As a group, sell-side analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

Allstate announced that its Board of Directors has approved 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 buy up to 3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.00 dividend. The ex-dividend date of this dividend 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 dividend yield of 2.01%. Allstate’s dividend payout ratio is 23.54%.

Insider Activity

In related news, CFO Jesse E. Merten sold 40,102 shares of the 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 directly owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company upped their price target on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $217.94.

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.