one8zero8 LLC Invests $303,000 in The Allstate Co. (NYSE:ALL)

one8zero8 LLC bought a new stake in shares of The Allstate Co. (NYSE:ALL) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 1,570 shares of the insurance provider’s stock, valued at approximately $303,000.

Several other institutional investors also recently bought and sold shares of the company. Natixis Advisors LLC boosted its position in shares of Allstate by 6.0% in the 4th quarter. Natixis Advisors LLC now owns 263,148 shares of the insurance provider’s stock worth $50,733,000 after purchasing an additional 14,908 shares in the last quarter. Frank Rimerman Advisors LLC increased its position in Allstate by 5.0% during the 4th quarter. Frank Rimerman Advisors LLC now owns 3,173 shares of the insurance provider’s stock valued at $612,000 after buying an additional 150 shares in the last quarter. Intact Investment Management Inc. raised its stake in Allstate by 46.2% in the fourth quarter. Intact Investment Management Inc. now owns 9,500 shares of the insurance provider’s stock valued at $1,832,000 after buying an additional 3,000 shares during the last quarter. LBP AM SA boosted its holdings in Allstate by 524.6% in the fourth quarter. LBP AM SA now owns 30,860 shares of the insurance provider’s stock worth $5,949,000 after acquiring an additional 25,919 shares in the last quarter. Finally, Madison Investment Advisors LLC purchased a new stake in shares of Allstate during the fourth quarter worth about $1,151,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Allstate

In other 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 transaction, the chief financial officer now owns 18,115 shares in the company, valued at $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 is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. 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 boosted their price objective on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Barclays reduced their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Allstate Price Performance

NYSE:ALL opened at $207.68 on Monday. 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 company has a 50 day moving average price of $191.72 and a 200-day moving average price of $192.47. The Allstate Co. has a 1-year low of $156.66 and a 1-year high of $209.88. The firm has a market cap of $55.04 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating 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%. Equities research analysts forecast that The Allstate Co. will post 18.74 EPS for the current year.

Allstate declared that its board has initiated a stock buyback plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 dividend on an annualized basis and a yield of 1.93%. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is currently 23.54%.

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.