1,260 Shares in The Allstate Co. (NYSE:ALL) Purchased by Holderness Investments Co.

Holderness Investments Co. purchased a new stake in shares of The Allstate Co. (NYSE:ALL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,260 shares of the insurance provider’s stock, valued at approximately $243,000.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Allstate by 1.1% during the third quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock valued at $2,190,758,000 after purchasing an additional 126,922 shares during the period. Geode Capital Management LLC boosted its stake in Allstate by 1.2% during the third quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock worth $1,178,164,000 after buying an additional 74,537 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Allstate by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,834,172 shares of the insurance provider’s stock valued at $353,610,000 after buying an additional 19,463 shares during the period. Strategic Financial Concepts LLC increased its holdings in 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 buying an additional 1,111,748 shares during the period. Finally, FMR LLC lifted its holdings in shares of Allstate by 11.8% during the 3rd quarter. FMR LLC now owns 933,352 shares of the insurance provider’s stock worth $177,010,000 after acquiring an additional 98,179 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ALL. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Piper Sandler upped their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. 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. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods upped 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $217.94.

Allstate Trading Down 1.7 %

Shares of ALL opened at $206.60 on Friday. The firm has a market capitalization of $54.76 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $212.91. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The stock’s fifty day simple moving average is $193.75 and its 200-day simple moving average is $193.07.

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, topping 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, research analysts predict that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The company 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 $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is presently 23.54%.

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

Insiders Place Their Bets

In related news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the sale, the chief financial officer now owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.

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.