Axxcess Wealth Management LLC Purchases 92 Shares of The Allstate Co. (NYSE:ALL)

Axxcess Wealth Management LLC lifted its holdings in shares of The Allstate Co. (NYSE:ALL) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,403 shares of the insurance provider’s stock after purchasing an additional 92 shares during the period. Axxcess Wealth Management LLC’s holdings in Allstate were worth $849,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Strategic Financial Concepts LLC grew its stake in Allstate by 15,062.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock valued at $215,757,000 after acquiring an additional 1,111,748 shares during the period. National Pension Service grew its holdings in shares of Allstate by 69.7% in the fourth quarter. National Pension Service now owns 708,098 shares of the insurance provider’s stock valued at $136,514,000 after acquiring an additional 290,858 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Allstate by 22,981.9% in the 4th quarter. Proficio Capital Partners LLC now owns 269,135 shares of the insurance provider’s stock valued at $51,887,000 after purchasing an additional 267,969 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in Allstate by 291.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider’s stock valued at $67,528,000 after buying an additional 265,213 shares during the period. Finally, Prana Capital Management LP increased its stake in shares of Allstate by 539.9% during the 3rd quarter. Prana Capital Management LP now owns 273,655 shares of the insurance provider’s stock worth $51,899,000 after purchasing an additional 230,893 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALL. Piper Sandler lifted their price objective on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Barclays reduced their price target on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Finally, Argus raised 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average target price of $217.94.

Insider Activity

In related news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 18,115 shares in the company, valued at $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Allstate Price Performance

Shares of ALL stock opened at $210.20 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The firm has a market cap of $55.71 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.01 and a beta of 0.47. The business’s 50 day moving average price is $193.24 and its 200-day moving average price is $192.94. The Allstate Co. has a fifty-two week low of $156.66 and a fifty-two week high of $212.91.

Allstate (NYSE:ALL) last released its quarterly earnings results 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 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 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.00 per share. This is a boost from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Monday, March 10th. Allstate’s dividend payout ratio (DPR) is 23.54%.

Allstate declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.