Versor Investments LP Trims Position in The Allstate Co. (NYSE:ALL)

Versor Investments LP cut its holdings in shares of The Allstate Co. (NYSE:ALL) by 48.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,302 shares of the insurance provider’s stock after selling 5,007 shares during the quarter. Versor Investments LP’s holdings in Allstate were worth $1,022,000 at the end of the most recent reporting period.

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

Allstate Trading Up 3.5 %

Shares of ALL opened at $195.01 on Friday. The Allstate Co. has a 52-week low of $153.87 and a 52-week high of $209.88. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average is $190.15 and its two-hundred day moving average is $190.71. The stock has a market cap of $51.68 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52.

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

Allstate Increases Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is 21.66%.

Allstate declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the insurance provider to buy up to 3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of recent research reports. Piper Sandler raised their price target on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. UBS Group lifted their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group lifted their target price on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $217.94.

Insiders Place Their Bets

In other news, CFO Jesse E. Merten sold 40,102 shares of the business’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 transaction, the chief financial officer now owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

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.