Intact Investment Management Inc. Trims Stock Holdings in The Allstate Co. (NYSE:ALL)

Intact Investment Management Inc. decreased its position in The Allstate Co. (NYSE:ALL) by 12.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,600 shares of the insurance provider’s stock after selling 800 shares during the quarter. Intact Investment Management Inc.’s holdings in Allstate were worth $784,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ellsworth Advisors LLC purchased a new position in shares of Allstate during the fourth quarter valued at approximately $4,312,000. SteelPeak Wealth LLC increased its stake in Allstate by 175.2% in the fourth quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock valued at $2,209,000 after purchasing an additional 9,984 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Allstate by 484.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock worth $46,488,000 after buying an additional 275,319 shares during the period. Meeder Asset Management Inc. boosted its stake in Allstate by 214.6% in the 4th quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock worth $220,000 after buying an additional 1,071 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in Allstate by 88.7% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider’s stock valued at $3,429,000 after buying an additional 11,512 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Allstate Trading Down 1.3 %

Shares of ALL traded down $2.27 during trading hours on Friday, reaching $170.07. 1,279,038 shares of the company’s stock traded hands, compared to its average volume of 1,336,406. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $176.93. The business’s fifty day simple moving average is $165.09 and its two-hundred day simple moving average is $149.38. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37.

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

Allstate Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods boosted their price objective on Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Piper Sandler boosted their price objective on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. UBS Group lifted their price objective on Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. increased their target price on Allstate from $172.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.71.

Allstate 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.