Corient Private Wealth LLC Acquires 5,654 Shares of The Allstate Co. (NYSE:ALL)

Corient Private Wealth LLC boosted its holdings in shares of The Allstate Co. (NYSE:ALL) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 243,377 shares of the insurance provider’s stock after acquiring an additional 5,654 shares during the quarter. Corient Private Wealth LLC’s holdings in Allstate were worth $46,921,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ALL. FSA Wealth Management LLC purchased a new stake in shares of Allstate in the 3rd quarter worth $26,000. Vision Financial Markets LLC bought a new position in Allstate during the 4th quarter worth about $29,000. Hopwood Financial Services Inc. purchased a new position in Allstate during the 4th quarter valued at about $29,000. Peoples Bank KS bought a new stake in shares of Allstate in the 4th quarter valued at about $49,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Allstate in the 4th quarter worth approximately $53,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALL. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Barclays decreased their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Keefe, Bruyette & Woods lifted their target price on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company raised their price target on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $217.94.

Allstate Trading Up 1.4 %

NYSE:ALL opened at $210.49 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $211.15. The stock’s 50 day moving average price is $192.22 and its 200 day moving average price is $192.63. The company has a market capitalization of $55.79 billion, a PE ratio of 12.39, a P/E/G ratio of 1.01 and a beta of 0.47.

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 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, research analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

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

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

Insiders Place Their Bets

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.

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.