South Street Advisors LLC Sells 1,020 Shares of The Allstate Co. (NYSE:ALL)

South Street Advisors LLC decreased its position in shares of The Allstate Co. (NYSE:ALL) by 42.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund 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.

Several other hedge funds have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in Allstate in the 3rd quarter valued at $26,000. Twin Tree Management LP bought a new stake in shares of Allstate during the 4th quarter worth $27,000. Vision Financial Markets LLC bought a new stake in shares of Allstate during the 4th quarter worth $29,000. Hopwood Financial Services Inc. bought a new stake in Allstate in the 4th quarter valued at about $29,000. Finally, Peoples Bank KS purchased a new position in Allstate during the 4th quarter valued at about $49,000. Institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on ALL shares. Keefe, Bruyette & Woods upped their target price on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Barclays decreased their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Wells Fargo & Company upped their target price on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Piper Sandler increased their price objective on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Allstate Trading Up 1.4 %

ALL opened at $210.49 on Tuesday. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $211.15. The stock has a market capitalization of $55.79 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.01 and a beta of 0.47. 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 business has a fifty day moving average price of $192.22 and a 200 day moving average price of $192.63.

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%. Sell-side analysts expect that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate announced that its board has initiated a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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 $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is 23.54%.

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.