iA Global Asset Management Inc. Sells 61 Shares of The Allstate Co. (NYSE:ALL)

iA Global Asset Management Inc. lowered its position in The Allstate Co. (NYSE:ALL) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,732 shares of the insurance provider’s stock after selling 61 shares during the quarter. iA Global Asset Management Inc.’s holdings in Allstate were worth $3,419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ALL. Apella Capital LLC raised its holdings in shares of Allstate by 1.9% in the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock valued at $623,000 after purchasing an additional 60 shares during the period. Avior Wealth Management LLC raised its stake in Allstate by 4.9% in the third quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider’s stock valued at $252,000 after buying an additional 62 shares during the period. Perigon Wealth Management LLC lifted its position 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 buying an additional 62 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Allstate by 1.7% during the 4th quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock worth $697,000 after acquiring an additional 62 shares during the last quarter. Finally, Angeles Wealth Management LLC raised its stake in Allstate by 4.6% in the 4th quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock valued at $270,000 after acquiring an additional 62 shares during the period. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other 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 value of $7,480,226.06. Following the completion of the transaction, the chief financial officer now owns 18,115 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Allstate Stock Up 2.6 %

Shares of NYSE ALL opened at $210.20 on Friday. The stock has a market capitalization of $55.71 billion, a P/E ratio of 12.37, a PEG ratio of 1.01 and a beta of 0.47. The stock’s fifty day moving average is $193.24 and its 200 day moving average is $192.94. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS 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%. Sell-side analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.90%. Allstate’s dividend payout ratio is presently 23.54%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Barclays reduced their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Piper Sandler boosted 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, Argus upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price of $217.94.

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.