Blueshift Asset Management LLC Grows Stock Holdings in The Allstate Co. (NYSE:ALL)

Blueshift Asset Management LLC raised its holdings in shares of The Allstate Co. (NYSE:ALL) by 103.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,688 shares of the insurance provider’s stock after buying an additional 3,405 shares during the period. Blueshift Asset Management LLC’s holdings in Allstate were worth $1,289,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. VSM Wealth Advisory LLC acquired a new stake in shares of Allstate during the 4th quarter valued at approximately $25,000. FSA Wealth Management LLC bought a new position in Allstate during the 3rd quarter valued at $26,000. Twin Tree Management LP bought a new position in shares of Allstate during the 4th quarter valued at about $27,000. Vision Financial Markets LLC acquired a new position in shares of Allstate in the 4th quarter worth $29,000. Finally, Hopwood Financial Services Inc. acquired a new position in Allstate in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Activity

In related news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the completion of the sale, the chief financial officer now directly owns 18,115 shares in the company, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Allstate Stock Performance

NYSE: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 current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $192.87 and a 200 day moving average price of $192.82. The stock has a market capitalization of $54.27 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, topping 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%. Equities research analysts forecast that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically a sign 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 paid a $1.00 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.95%. Allstate’s dividend payout ratio is presently 23.54%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Barclays cut their price target on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Keefe, Bruyette & Woods increased their price target on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Piper Sandler upped 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. Finally, Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

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.