Cross Staff Investments Inc Invests $210,000 in The Allstate Co. (NYSE:ALL)

Cross Staff Investments Inc acquired a new position in shares of The Allstate Co. (NYSE:ALL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,500 shares of the insurance provider’s stock, valued at approximately $210,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Allstate in the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Allstate in the 4th quarter worth about $36,000. Venturi Wealth Management LLC lifted its position in Allstate by 152.7% in the 4th quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 168 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in Allstate during the 4th quarter valued at about $43,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Allstate in the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

ALL traded down $2.33 on Friday, hitting $170.01. The company’s stock had a trading volume of 854,323 shares, compared to its average volume of 1,675,038. The company’s 50 day simple moving average is $164.92 and its 200-day simple moving average is $148.75. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $176.93.

Allstate (NYSE:ALL) last released its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. The company had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.36) EPS. Equities research analysts predict that The Allstate Co. will post 13.44 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.92 dividend. The ex-dividend date was Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.16%. Allstate’s dividend payout ratio is currently -296.77%.

Insider Buying and Selling at Allstate

In related news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the sale, the insider now owns 63,731 shares in the company, valued at approximately $10,847,016.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ALL shares. Piper Sandler upped their price target on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Morgan Stanley raised their price target on shares of Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. BMO Capital Markets increased their price objective on shares of Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a research note on Friday, January 19th. Evercore ISI boosted their target price on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Finally, Roth Mkm upped their target price on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.71.

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.