NBT Bank N A NY Reduces Stake in The Allstate Co. (NYSE:ALL)

NBT Bank N A NY reduced its position in The Allstate Co. (NYSE:ALL) by 4.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,309 shares of the insurance provider’s stock after selling 100 shares during the period. NBT Bank N A NY’s holdings in Allstate were worth $445,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new position in Allstate in the 3rd quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new stake in Allstate during the 4th quarter valued at $29,000. Peoples Bank KS acquired a new stake in Allstate during the 4th quarter valued at $49,000. Stonebridge Financial Group LLC acquired a new stake in Allstate during the 4th quarter valued at $53,000. Finally, Golden State Wealth Management LLC acquired a new stake in Allstate during the 4th quarter valued at $57,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

Shares of Allstate stock opened at $202.25 on Wednesday. The Allstate Co. has a twelve month low of $156.66 and a twelve month high of $209.88. The stock has a market capitalization of $53.60 billion, a P/E ratio of 11.90, a PEG ratio of 1.01 and a beta of 0.47. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The business’s fifty day moving average price is $191.08 and its 200 day moving average price is $192.10.

Allstate (NYSE:ALL) last released its quarterly earnings data 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 return on equity of 28.20% and a net margin of 7.28%. As a group, research analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate declared that its board has approved a stock buyback program on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Allstate Increases Dividend

The business 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 dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Monday, March 10th. This is a boost from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is currently 23.54%.

Insiders Place Their Bets

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction dated 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. The trade was a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company increased their target price on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Piper Sandler raised their price objective on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. The Goldman Sachs Group raised their price objective on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Barclays decreased their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.