Wakefield Asset Management LLLP Invests $3.96 Million in The Allstate Co. (NYSE:ALL)

Wakefield Asset Management LLLP acquired a new stake in The Allstate Co. (NYSE:ALL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,559 shares of the insurance provider’s stock, valued at approximately $3,964,000. Allstate accounts for 1.3% of Wakefield Asset Management LLLP’s portfolio, making the stock its 19th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Chicago Partners Investment Group LLC grew its holdings in shares of Allstate by 1.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after purchasing an additional 59 shares in the last quarter. Carmichael Hill & Associates Inc. raised its stake in shares of Allstate by 15.0% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock valued at $87,000 after buying an additional 60 shares in the last quarter. Apella Capital LLC lifted its holdings in shares of Allstate by 1.9% during the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock worth $623,000 after acquiring an additional 60 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Allstate by 4.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider’s stock worth $252,000 after acquiring an additional 62 shares during the period. Finally, Perigon Wealth Management LLC boosted its position in shares of Allstate by 2.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock valued at $571,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling

In other Allstate 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 transaction, the chief financial officer now owns 18,115 shares in the company, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by insiders.

Allstate Trading Up 3.5 %

ALL stock opened at $195.01 on Friday. 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 Allstate Co. has a twelve month low of $153.87 and a twelve month high of $209.88. The company has a market cap of $51.68 billion, a P/E ratio of 11.48, a PEG ratio of 1.01 and a beta of 0.52. The business has a fifty day moving average of $190.15 and a 200-day moving average of $190.71.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share 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%. As a group, equities research analysts expect that The Allstate Co. will post 18.74 EPS for the current year.

Allstate declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Allstate Increases Dividend

The business also recently declared 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 is a positive change from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Monday, March 10th. Allstate’s dividend payout ratio (DPR) is currently 21.66%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALL. Morgan Stanley raised their price target on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Barclays decreased their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. Piper Sandler increased their price objective on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company upped their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.94.

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.