The Allstate Co. (NYSE:ALL) Shares Sold by Private Trust Co. NA

Private Trust Co. NA reduced its position in The Allstate Co. (NYSE:ALL) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,935 shares of the insurance provider’s stock after selling 230 shares during the quarter. Private Trust Co. NA’s holdings in Allstate were worth $1,144,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ALL. FSA Wealth Management LLC acquired a new position in shares of Allstate during the third quarter worth about $26,000. Catalyst Capital Advisors LLC acquired a new position in shares of Allstate during the third quarter worth about $29,000. Peoples Bank KS acquired a new position in shares of Allstate during the fourth quarter worth about $49,000. Stonebridge Financial Group LLC acquired a new position in shares of Allstate during the fourth quarter worth about $53,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Allstate during the fourth quarter worth about $57,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ALL. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Piper Sandler boosted their price objective on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Wells Fargo & Company boosted 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. UBS Group boosted their target price on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group boosted their target price on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $217.94.

Allstate Price Performance

Shares of NYSE ALL opened at $199.20 on Friday. 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 Allstate Co. has a twelve month low of $153.87 and a twelve month high of $209.88. The stock has a 50 day moving average of $190.26 and a two-hundred day moving average of $190.90. The stock has a market cap of $52.79 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.01 and a beta of 0.52.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. On average, research analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a yield of 2.01%. This is a boost from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is currently 21.66%.

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

Insider Buying and Selling at Allstate

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 of the company’s stock, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by company insiders.

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.