OneAscent Financial Services LLC Sells 54 Shares of The Allstate Co. (NYSE:ALL)

OneAscent Financial Services LLC lowered its stake in shares of The Allstate Co. (NYSE:ALL) by 3.5% during the fourth quarter, HoldingsChannel reports. The fund owned 1,476 shares of the insurance provider’s stock after selling 54 shares during the quarter. OneAscent Financial Services LLC’s holdings in Allstate were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ALL. United Bank bought a new stake in shares of Allstate in the 3rd quarter worth approximately $209,000. Edgestream Partners L.P. lifted its position in Allstate by 110.7% in the third quarter. Edgestream Partners L.P. now owns 3,454 shares of the insurance provider’s stock worth $655,000 after purchasing an additional 1,815 shares during the period. Hilltop Holdings Inc. lifted its position in Allstate by 25.1% in the third quarter. Hilltop Holdings Inc. now owns 2,683 shares of the insurance provider’s stock worth $509,000 after purchasing an additional 539 shares during the period. Janus Henderson Group PLC boosted its stake in Allstate by 1.1% during the third quarter. Janus Henderson Group PLC now owns 32,315 shares of the insurance provider’s stock worth $6,127,000 after buying an additional 347 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in Allstate by 108.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 6,818 shares of the insurance provider’s stock valued at $1,293,000 after buying an additional 3,554 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Performance

Shares of Allstate stock opened at $186.74 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The firm has a 50 day simple moving average of $197.37 and a 200 day simple moving average of $194.33. The Allstate Co. has a fifty-two week low of $156.66 and a fifty-two week high of $212.91. The firm has a market cap of $49.49 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL) last released its earnings results 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%. Sell-side analysts predict that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its board has initiated a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a dividend of $1.00 per share. The ex-dividend date was Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a yield of 2.14%. Allstate’s dividend payout ratio is presently 23.54%.

Insider Activity

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction that occurred on 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 directly owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ALL. StockNews.com lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. Wells Fargo & Company lifted their price objective on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Barclays decreased their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. Finally, Argus upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $219.80.

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.