Morey & Quinn Wealth Partners LLC Purchases Shares of 10,138 The Allstate Co. (NYSE:ALL)

Morey & Quinn Wealth Partners LLC acquired a new position in shares of The Allstate Co. (NYSE:ALL) in the 4th quarter, HoldingsChannel reports. The firm acquired 10,138 shares of the insurance provider’s stock, valued at approximately $1,955,000. Allstate makes up approximately 1.7% of Morey & Quinn Wealth Partners LLC’s portfolio, making the stock its 13th largest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. Apella Capital LLC lifted its stake in Allstate by 1.9% in the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock valued at $623,000 after acquiring an additional 60 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Allstate by 2.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock worth $571,000 after purchasing an additional 62 shares in the last quarter. Mather Group LLC. boosted its holdings 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 purchasing an additional 62 shares during the last quarter. Angeles Wealth Management LLC grew its position in Allstate by 4.6% in the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock valued at $270,000 after purchasing an additional 62 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Allstate by 4.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,505 shares of the insurance provider’s stock valued at $290,000 after buying an additional 63 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALL has been the subject of several analyst reports. Piper Sandler raised their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Barclays lowered their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company increased their price objective on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Stock Performance

Shares of NYSE ALL opened at $208.14 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The firm has a market cap of $55.16 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 1.01 and a beta of 0.47. The stock’s fifty day moving average price is $194.67 and its two-hundred day moving average price is $193.43. The Allstate Co. has a one year low of $156.66 and a one year high of $212.91.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating 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%. On average, equities analysts forecast that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a yield of 1.92%. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is currently 23.54%.

Allstate declared that its board has approved a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total value 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Allstate Company 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.