SVB Wealth LLC Acquires New Position in The Allstate Co. (NYSE:ALL)

SVB Wealth LLC purchased a new position in The Allstate Co. (NYSE:ALL) in the fourth quarter, Holdings Channel reports. The fund purchased 7,449 shares of the insurance provider’s stock, valued at approximately $1,436,000.

Other institutional investors also recently added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new position in Allstate in the third quarter worth approximately $26,000. Catalyst Capital Advisors LLC purchased a new position in Allstate in the third quarter worth approximately $29,000. Peoples Bank KS purchased a new position in Allstate in the fourth quarter worth approximately $49,000. Stonebridge Financial Group LLC purchased a new position in Allstate in the fourth quarter worth approximately $53,000. Finally, Golden State Wealth Management LLC purchased a new position in Allstate in the fourth quarter worth approximately $57,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Up 2.1 %

ALL stock opened at $199.20 on Monday. The company has a fifty day moving average price of $190.26 and a 200 day moving average price of $191.11. The Allstate Co. has a 12 month low of $153.87 and a 12 month high of $209.88. The company has a market cap of $52.79 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40.

Allstate (NYSE:ALL) last released its quarterly 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 expect that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The company also recently disclosed 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 is a boost from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s payout ratio is currently 21.66%.

Allstate declared that its Board of Directors has initiated a stock 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ALL shares. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Wells Fargo & Company boosted 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 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. Morgan Stanley boosted their price objective on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price objective on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $217.94.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

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.