The Allstate Co. (NYSE:ALL) Shares Acquired by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC increased its stake in The Allstate Co. (NYSE:ALL) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,682 shares of the insurance provider’s stock after purchasing an additional 190 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Allstate were worth $3,987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Beacon Harbor Wealth Advisors Inc. bought a new position in shares of Allstate during the 4th quarter valued at about $6,001,000. Inceptionr LLC bought a new position in shares of Allstate during the 4th quarter valued at about $1,126,000. Dana Investment Advisors Inc. boosted its position in shares of Allstate by 4.2% during the 4th quarter. Dana Investment Advisors Inc. now owns 16,726 shares of the insurance provider’s stock valued at $3,225,000 after purchasing an additional 671 shares in the last quarter. Vision Financial Markets LLC bought a new position in shares of Allstate during the 4th quarter valued at about $29,000. Finally, Proficio Capital Partners LLC boosted its position in shares of Allstate by 19.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,396 shares of the insurance provider’s stock valued at $269,000 after purchasing an additional 230 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was 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 directly owns 18,115 shares in the company, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Allstate Stock Up 0.3 %

Shares of NYSE ALL opened at $199.65 on Thursday. The business has a fifty day moving average of $190.58 and a two-hundred day moving average of $191.47. 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 52-week low of $154.76 and a 52-week high of $209.88. The stock has a market cap of $52.91 billion, a PE ratio of 11.75, a PEG ratio of 1.01 and a beta of 0.52.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. As a group, equities research analysts expect that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.00 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s payout ratio is presently 23.54%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALL. Jefferies Financial Group raised their target price on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday. Piper Sandler raised their target price on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. The Goldman Sachs Group raised their target price on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Morgan Stanley increased their price target 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently 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.