Frank Rimerman Advisors LLC Has $612,000 Stake in The Allstate Co. (NYSE:ALL)

Frank Rimerman Advisors LLC boosted its position in shares of The Allstate Co. (NYSE:ALL) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,173 shares of the insurance provider’s stock after acquiring an additional 150 shares during the period. Frank Rimerman Advisors LLC’s holdings in Allstate were worth $612,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Apella Capital LLC raised its position in shares of Allstate by 1.9% during the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock valued at $623,000 after buying an additional 60 shares during the last quarter. Avior Wealth Management LLC grew its stake in Allstate by 4.9% during the third quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider’s stock worth $252,000 after buying an additional 62 shares during the last quarter. Perigon Wealth Management LLC grew its stake in Allstate by 2.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock worth $571,000 after buying an additional 62 shares during the last quarter. Mather Group LLC. grew its stake in Allstate by 1.7% during the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock worth $697,000 after buying an additional 62 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its stake in Allstate by 4.6% during the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock worth $270,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALL. Piper Sandler upped their price objective on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Wells Fargo & Company increased their price objective on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Barclays cut their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. Finally, Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Allstate Price Performance

Shares of Allstate stock opened at $207.68 on Monday. The Allstate Co. has a twelve month low of $156.66 and a twelve month high of $209.88. 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 company has a 50-day simple moving average of $191.72 and a two-hundred day simple moving average of $192.47. The stock has a market capitalization of $55.04 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Analysts forecast that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The company also recently announced 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. The ex-dividend date is Monday, March 10th. This is a boost from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 1.93%. Allstate’s payout ratio is presently 23.54%.

Allstate declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 18,115 shares in the company, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

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.