Intact Investment Management Inc. Purchases 3,000 Shares of The Allstate Co. (NYSE:ALL)

Intact Investment Management Inc. boosted its position in shares of The Allstate Co. (NYSE:ALL) by 46.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,500 shares of the insurance provider’s stock after purchasing an additional 3,000 shares during the quarter. Intact Investment Management Inc.’s holdings in Allstate were worth $1,832,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. FSA Wealth Management LLC acquired a new position in shares of Allstate during the 3rd quarter worth about $26,000. Vision Financial Markets LLC acquired a new position in shares of Allstate during the 4th quarter worth about $29,000. Hopwood Financial Services Inc. acquired a new position in shares of Allstate during the 4th quarter worth about $29,000. Peoples Bank KS acquired a new position in shares of Allstate during the 4th quarter worth about $49,000. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Allstate during the 4th quarter worth about $53,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction 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 sale, the chief financial officer now owns 18,115 shares in the company, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Allstate Trading Up 2.8 %

NYSE:ALL opened at $207.68 on Friday. The Allstate Co. has a twelve month low of $156.66 and a twelve month high of $209.88. The company has a market cap of $55.04 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. 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 business has a 50 day moving average price of $191.72 and a two-hundred day moving average price of $192.38.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate announced that its board has authorized a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is currently 23.54%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ALL shares. Barclays decreased their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Piper Sandler boosted their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Wells Fargo & Company boosted their price objective on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group boosted their price objective on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Argus upgraded Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.