Frank Rimerman Advisors LLC Buys 150 Shares of The Allstate Co. (NYSE:ALL)

Frank Rimerman Advisors LLC lifted its stake in shares of The Allstate Co. (NYSE:ALL) by 5.0% during the 4th quarter, HoldingsChannel reports. The firm owned 3,173 shares of the insurance provider’s stock after acquiring an additional 150 shares during the period. Frank Rimerman Advisors LLC’s holdings in Allstate were worth $612,000 at the end of the most recent reporting period.

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 Allstate during the 3rd quarter worth approximately $26,000. Vision Financial Markets LLC acquired a new position in shares of Allstate in the 4th quarter worth approximately $29,000. Hopwood Financial Services Inc. acquired a new position in shares of Allstate in the 4th quarter worth approximately $29,000. Peoples Bank KS acquired a new position in shares of Allstate in the 4th quarter worth approximately $49,000. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Allstate in the 4th quarter worth approximately $53,000. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

NYSE ALL opened at $207.68 on Monday. The Allstate Co. has a 1 year low of $156.66 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 firm has a market cap of $55.04 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.01 and a beta of 0.47. The company has a fifty day moving average price of $191.72 and a 200-day moving average price of $192.47.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share 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 predict that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently declared 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. The ex-dividend date is Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 1.93%. This is a positive change from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is presently 23.54%.

Allstate declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 26th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the insurance provider to buy up to 3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

ALL has been the topic of a number of recent analyst reports. Piper Sandler boosted 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. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Wells Fargo & Company upped their price objective 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. Barclays lowered their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. Finally, Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Insider Activity at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the 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 completion of the transaction, the chief financial officer now owns 18,115 shares in the company, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

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.