Corient Private Wealth LLC Acquires 5,654 Shares of The Allstate Co. (NYSE:ALL)

Corient Private Wealth LLC grew its holdings in The Allstate Co. (NYSE:ALL) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 243,377 shares of the insurance provider’s stock after purchasing an additional 5,654 shares during the period. Corient Private Wealth LLC owned about 0.09% of Allstate worth $46,921,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Allstate by 5.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 52,614 shares of the insurance provider’s stock worth $10,143,000 after acquiring an additional 2,566 shares during the period. one8zero8 LLC bought a new position in shares of Allstate during the fourth quarter worth approximately $303,000. Natixis Advisors LLC raised its holdings in Allstate by 6.0% in the 4th quarter. Natixis Advisors LLC now owns 263,148 shares of the insurance provider’s stock valued at $50,733,000 after acquiring an additional 14,908 shares in the last quarter. Frank Rimerman Advisors LLC raised its stake in Allstate by 5.0% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,173 shares of the insurance provider’s stock valued at $612,000 after purchasing an additional 150 shares in the last quarter. Finally, Intact Investment Management Inc. raised its position in shares of Allstate by 46.2% in the 4th quarter. Intact Investment Management Inc. now owns 9,500 shares of the insurance provider’s stock valued at $1,832,000 after buying an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling

In related 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by insiders.

Allstate Stock Performance

Shares of ALL opened at $210.49 on Tuesday. The Allstate Co. has a one year low of $156.66 and a one year high of $211.15. The business has a fifty day moving average of $192.22 and a 200 day moving average of $192.63. 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 market capitalization of $55.79 billion, a P/E ratio of 12.39, a PEG ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share 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%. As a group, sell-side analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

Allstate announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $1.00 per share. This is a boost from Allstate’s previous quarterly dividend of $0.92. 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 1.90%. Allstate’s payout ratio is 23.54%.

Analyst Ratings Changes

Several analysts recently weighed in on ALL shares. Wells Fargo & Company upped their price objective on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Barclays reduced their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. Keefe, Bruyette & Woods increased their target price on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Piper Sandler increased their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. One equities research 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.