Atlanta Consulting Group Advisors LLC Reduces Stock Position in The Allstate Co. (NYSE:ALL)

Atlanta Consulting Group Advisors LLC reduced its position in shares of The Allstate Co. (NYSE:ALL) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,762 shares of the insurance provider’s stock after selling 1,188 shares during the period. Atlanta Consulting Group Advisors LLC’s holdings in Allstate were worth $725,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Apella Capital LLC boosted its stake 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 last quarter. Avior Wealth Management LLC boosted its stake 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 last quarter. Perigon Wealth Management LLC boosted its stake 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 worth $571,000 after acquiring an additional 62 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Allstate by 1.7% during the 4th quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock worth $697,000 after acquiring an additional 62 shares during the last quarter. Finally, Angeles Wealth Management LLC boosted its stake in shares of Allstate by 4.6% during the 4th quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock worth $270,000 after acquiring an additional 62 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the business’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 sale, the chief financial officer now directly owns 18,115 shares in the company, valued at $3,378,990.95. The trade was a 68.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of NYSE ALL opened at $207.68 on Monday. 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 company has a market cap of $55.04 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.01 and a beta of 0.47. The firm’s fifty day moving average is $191.72 and its two-hundred day moving average is $192.47. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $209.88.

Allstate (NYSE:ALL) last posted its 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, analysts anticipate that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate declared that its board has approved a share repurchase program on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.93%. Allstate’s payout ratio is 23.54%.

Analyst Ratings Changes

ALL has been the topic of several analyst reports. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Piper Sandler raised their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Wells Fargo & Company raised their price objective on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. Finally, Barclays decreased their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

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.