The Allstate Co. (NYSE:ALL) Stock Holdings Boosted by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC boosted its holdings in The Allstate Co. (NYSE:ALL) by 15.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,337 shares of the insurance provider’s stock after acquiring an additional 180 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Allstate were worth $258,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ALL. Strategic Financial Concepts LLC lifted its position in Allstate by 15,062.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock worth $215,757,000 after purchasing an additional 1,111,748 shares during the period. National Pension Service increased its position in shares of Allstate by 69.7% in the fourth quarter. National Pension Service now owns 708,098 shares of the insurance provider’s stock worth $136,514,000 after acquiring an additional 290,858 shares in the last quarter. Proficio Capital Partners LLC grew its position in Allstate by 22,981.9% during the 4th quarter. Proficio Capital Partners LLC now owns 269,135 shares of the insurance provider’s stock worth $51,887,000 after purchasing an additional 267,969 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Allstate by 291.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider’s stock valued at $67,528,000 after purchasing an additional 265,213 shares in the last quarter. Finally, Prana Capital Management LP grew its holdings in shares of Allstate by 539.9% during the third quarter. Prana Capital Management LP now owns 273,655 shares of the insurance provider’s stock valued at $51,899,000 after buying an additional 230,893 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Down 0.9 %

Shares of Allstate stock opened at $199.00 on Tuesday. The Allstate Co. has a 52-week low of $156.45 and a 52-week high of $209.88. The firm has a market cap of $52.74 billion, a PE ratio of 11.71, a P/E/G ratio of 1.01 and a beta of 0.47. The business’s 50 day simple moving average is $190.89 and its 200 day simple moving average is $191.95. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36.

Allstate (NYSE:ALL) last released its quarterly earnings results 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 return on equity of 28.20% and a net margin of 7.28%. On average, analysts predict that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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 paid a $1.00 dividend. 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 2.01%. The ex-dividend date is Monday, March 10th. Allstate’s payout ratio is 23.54%.

Insider Transactions at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of Allstate 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 transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on ALL. Wells Fargo & Company raised their price target on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. 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. The Goldman Sachs Group increased their target price on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Piper Sandler lifted their price target 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. Finally, Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.94.

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.