The Allstate Co. (NYSE:ALL) Shares Acquired by Financial Counselors Inc.

Financial Counselors Inc. lifted its holdings in The Allstate Co. (NYSE:ALL) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,921 shares of the insurance provider’s stock after buying an additional 1,959 shares during the period. Financial Counselors Inc.’s holdings in Allstate were worth $19,071,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Penobscot Investment Management Company Inc. boosted its holdings in shares of Allstate by 21.5% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 2,778 shares of the insurance provider’s stock worth $536,000 after purchasing an additional 492 shares during the last quarter. Morey & Quinn Wealth Partners LLC acquired a new position in Allstate during the fourth quarter worth $1,955,000. Ipsen Advisor Group LLC purchased a new stake in Allstate in the 4th quarter valued at $589,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Allstate by 4.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,254 shares of the insurance provider’s stock worth $36,101,000 after acquiring an additional 7,945 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Allstate by 142.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,497 shares of the insurance provider’s stock worth $2,024,000 after acquiring an additional 6,168 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction that occurred 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 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 trade represents a 68.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

Allstate Stock Up 0.4 %

ALL opened at $208.14 on Wednesday. The stock has a market capitalization of $55.16 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The Allstate Co. has a one year low of $156.66 and a one year high of $212.91. The business’s 50-day simple moving average is $194.67 and its 200-day simple moving average is $193.43.

Allstate (NYSE:ALL) last posted its quarterly earnings data 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 return on equity of 28.20% and a net margin of 7.28%. Analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

Allstate declared that its board has authorized a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.00 per share. This is an increase from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.00 annualized dividend and a dividend yield of 1.92%. Allstate’s dividend payout ratio is 23.54%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ALL shares. Barclays cut their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Piper Sandler raised their price target on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price objective on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Argus raised Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Finally, Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $217.94.

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.