Twin Tree Management LP Makes New Investment in The Allstate Co. (NYSE:ALL)

Twin Tree Management LP bought a new position in The Allstate Co. (NYSE:ALL) in the fourth quarter, HoldingsChannel.com reports. The fund bought 139 shares of the insurance provider’s stock, valued at approximately $27,000.

A number of other institutional investors also recently modified their holdings of the stock. United Bank bought a new stake in shares of Allstate during the third quarter worth approximately $209,000. OneDigital Investment Advisors LLC raised its stake in shares of Allstate by 6.9% during the third quarter. OneDigital Investment Advisors LLC now owns 4,294 shares of the insurance provider’s stock worth $814,000 after buying an additional 278 shares during the last quarter. Claro Advisors LLC bought a new stake in shares of Allstate during the third quarter worth approximately $221,000. Caprock Group LLC raised its stake in shares of Allstate by 2.4% during the third quarter. Caprock Group LLC now owns 13,568 shares of the insurance provider’s stock worth $2,585,000 after buying an additional 318 shares during the last quarter. Finally, OneAscent Financial Services LLC raised its stake in shares of Allstate by 20.1% during the third quarter. OneAscent Financial Services LLC now owns 1,530 shares of the insurance provider’s stock worth $291,000 after buying an additional 256 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Stock Down 0.3 %

Allstate stock opened at $204.77 on Thursday. The stock has a market capitalization of $54.27 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The Allstate Co. has a twelve month low of $156.66 and a twelve month high of $211.15. 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 company has a 50 day moving average of $192.87 and a 200-day moving average of $192.82.

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

Allstate Increases Dividend

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

Allstate announced that its Board of Directors has approved a share buyback 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ALL shares. Wells Fargo & Company boosted their price target on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Barclays decreased their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Finally, Piper Sandler boosted their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Insider Transactions at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction on Monday, February 10th. The shares were 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 of the company’s stock, valued at $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by 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.