one8zero8 LLC Acquires Shares of 1,570 The Allstate Co. (NYSE:ALL)

one8zero8 LLC acquired a new stake in shares of The Allstate Co. (NYSE:ALL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,570 shares of the insurance provider’s stock, valued at approximately $303,000.

Other large investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC grew its holdings in Allstate by 15,062.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock valued at $215,757,000 after buying an additional 1,111,748 shares in the last quarter. National Pension Service grew its holdings 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 valued at $136,514,000 after purchasing an additional 290,858 shares in the last quarter. Proficio Capital Partners LLC increased its position in Allstate by 22,981.9% in the fourth 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 during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Allstate by 291.9% during 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 stake in shares of Allstate by 539.9% in the 3rd quarter. Prana Capital Management LP now owns 273,655 shares of the insurance provider’s stock worth $51,899,000 after buying an additional 230,893 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Stock Up 2.8 %

Shares of NYSE ALL opened at $207.68 on Monday. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $209.88. The firm has a market capitalization of $55.04 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.01 and a beta of 0.47. The stock has a 50 day moving average price of $191.72 and a 200 day moving average price of $192.47. 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 issued its 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%. Sell-side analysts expect that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.93%. This is a boost from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s dividend payout ratio is presently 23.54%.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Piper Sandler increased their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Wells Fargo & Company raised their price objective on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Barclays cut their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $217.94.

Insider Buying and Selling at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.