Cinctive Capital Management LP Purchases 8,046 Shares of The Allstate Co. (NYSE:ALL)

Cinctive Capital Management LP grew its position in The Allstate Co. (NYSE:ALL) by 48.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,496 shares of the insurance provider’s stock after purchasing an additional 8,046 shares during the quarter. Cinctive Capital Management LP’s holdings in Allstate were worth $4,723,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. VSM Wealth Advisory LLC acquired a new position in Allstate in the 4th quarter valued at $25,000. Twin Tree Management LP bought a new stake in shares of Allstate in the fourth quarter valued at about $27,000. Vision Financial Markets LLC acquired a new position in shares of Allstate in the fourth quarter valued at about $29,000. Hopwood Financial Services Inc. bought a new position in Allstate during the fourth quarter worth about $29,000. Finally, Peoples Bank KS acquired a new stake in Allstate in the 4th quarter worth about $49,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Barclays cut their target price 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 upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods boosted their price target on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.80.

Allstate Stock Performance

Shares of Allstate stock opened at $205.59 on Thursday. The company’s 50 day moving average price is $196.94 and its two-hundred day moving average price is $194.28. The firm has a market capitalization of $54.49 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.01 and a beta of 0.47. The Allstate Co. has a fifty-two week low of $156.66 and a fifty-two week high of $212.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40.

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

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $1.00 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.00 annualized dividend and a dividend yield of 1.95%. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is currently 23.54%.

Allstate announced that its board has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the company’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. This represents a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

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.