iA Global Asset Management Inc. Sells 61 Shares of The Allstate Co. (NYSE:ALL)

iA Global Asset Management Inc. cut its holdings in The Allstate Co. (NYSE:ALL) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,732 shares of the insurance provider’s stock after selling 61 shares during the quarter. iA Global Asset Management Inc.’s holdings in Allstate were worth $3,419,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ALL. VSM Wealth Advisory LLC bought a new position in shares of Allstate in the fourth quarter worth about $25,000. FSA Wealth Management LLC bought a new position in Allstate in the 3rd quarter worth approximately $26,000. Twin Tree Management LP acquired a new position in Allstate during the 4th quarter worth $27,000. Vision Financial Markets LLC bought a new position in Allstate in the 4th quarter valued at $29,000. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of Allstate in the 4th quarter valued at $29,000. 76.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction 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 sale, 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 is accessible through this link. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays lowered their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Evercore ISI raised 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 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 company an “equal weight” rating in a research report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Allstate Stock Performance

Shares of ALL stock opened at $210.20 on Friday. The company has a market capitalization of $55.71 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. 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’s 50 day moving average price is $193.24 and its two-hundred day moving average price is $192.94.

Allstate (NYSE:ALL) last announced 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%. On average, analysts expect that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate announced that its board has initiated a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio (DPR) is currently 23.54%.

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.