The Allstate Co. (NYSE:ALL) Shares Purchased by Keybank National Association OH

Keybank National Association OH lifted its holdings in shares of The Allstate Co. (NYSE:ALL) by 1.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 344,875 shares of the insurance provider’s stock after purchasing an additional 5,786 shares during the quarter. Keybank National Association OH owned about 0.13% of Allstate worth $66,489,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Chicago Partners Investment Group LLC lifted its holdings in shares of Allstate by 1.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock valued at $893,000 after purchasing an additional 59 shares during the last quarter. Apella Capital LLC grew its stake in shares of Allstate by 1.9% during the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock worth $623,000 after purchasing an additional 60 shares during the period. Avior Wealth Management LLC lifted its position in shares of Allstate by 4.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider’s stock valued at $252,000 after acquiring an additional 62 shares during the period. Perigon Wealth Management LLC boosted its position in shares of Allstate by 2.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock worth $571,000 after buying an additional 62 shares in the last quarter. Finally, Mather Group LLC. increased its stake in shares of Allstate by 1.7% during the 4th quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock worth $697,000 after purchasing an additional 62 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALL has been the subject of several analyst reports. Jefferies Financial Group upped their target price on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Piper Sandler increased their target price on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Barclays lowered their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Finally, Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Allstate Stock Up 1.4 %

Shares of ALL stock opened at $201.87 on Tuesday. 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 stock has a market cap of $53.50 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.01 and a beta of 0.52. The Allstate Co. has a 52-week low of $153.87 and a 52-week high of $209.88. The firm’s 50-day moving average is $190.43 and its 200-day moving average is $191.27.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (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 predict that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.98%. Allstate’s dividend payout ratio is currently 23.54%.

Allstate declared that its board has approved a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

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.