Trillium Asset Management LLC Trims Stake in The Allstate Co. (NYSE:ALL)

Trillium Asset Management LLC lessened its holdings in The Allstate Co. (NYSE:ALL) by 6.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,410 shares of the insurance provider’s stock after selling 95 shares during the period. Trillium Asset Management LLC’s holdings in Allstate were worth $272,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ALL. Xponance Inc. boosted its position in shares of Allstate by 36.2% during the 4th quarter. Xponance Inc. now owns 54,962 shares of the insurance provider’s stock valued at $10,596,000 after acquiring an additional 14,604 shares during the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Allstate in the 4th quarter worth about $2,061,000. Horizon Investments LLC grew its position in Allstate by 2.0% during the fourth quarter. Horizon Investments LLC now owns 4,415 shares of the insurance provider’s stock valued at $851,000 after acquiring an additional 88 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in shares of Allstate by 2.1% during the 4th quarter. Axxcess Wealth Management LLC now owns 4,403 shares of the insurance provider’s stock valued at $849,000 after purchasing an additional 92 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new position in shares of Allstate during the fourth quarter valued at about $288,000. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling

In related news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction dated 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 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 document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Allstate Price Performance

ALL opened at $204.77 on Thursday. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $211.15. The company has a market cap of $54.27 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth 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 stock has a fifty day simple moving average of $192.87 and a two-hundred day simple moving average of $192.82.

Allstate (NYSE:ALL) last issued 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 net margin of 7.28% and a return on equity of 28.20%. Research analysts predict that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

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

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $1.00 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Monday, March 10th. Allstate’s payout ratio is currently 23.54%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ALL shares. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Piper Sandler upped their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Wells Fargo & Company raised their target price on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods upped their price target on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus target price 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.