The Allstate Co. (NYSE:ALL) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in The Allstate Co. (NYSE:ALL) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 427,711 shares of the insurance provider’s stock after selling 12,205 shares during the period. Thrivent Financial for Lutherans’ holdings in Allstate were worth $82,466,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Axxcess Wealth Management LLC grew its stake in shares of Allstate by 2.1% in the fourth quarter. Axxcess Wealth Management LLC now owns 4,403 shares of the insurance provider’s stock worth $849,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of Allstate in the fourth quarter worth $288,000. Parallel Advisors LLC grew its stake in shares of Allstate by 3.0% in the fourth quarter. Parallel Advisors LLC now owns 8,017 shares of the insurance provider’s stock worth $1,546,000 after purchasing an additional 235 shares in the last quarter. Cibc World Markets Corp grew its stake in shares of Allstate by 377.8% in the fourth quarter. Cibc World Markets Corp now owns 244,567 shares of the insurance provider’s stock worth $47,150,000 after purchasing an additional 193,385 shares in the last quarter. Finally, Twin Tree Management LP bought a new position in shares of Allstate in the fourth quarter worth $27,000. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the completion of the sale, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Allstate Stock Down 2.4 %

Shares of Allstate stock opened at $205.02 on Wednesday. The stock has a 50-day moving average price of $192.60 and a 200 day moving average price of $192.74. The company has a market cap of $54.33 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.01 and a beta of 0.47. 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 1 year low of $156.66 and a 1 year high of $211.15.

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 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%. 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 buyback program on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.00 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s dividend payout ratio is currently 23.54%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Argus raised Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Piper Sandler raised their target price on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods raised their target price on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company raised their target price on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.