Alteri Wealth LLC Acquires Shares of 2,552 The Allstate Co. (NYSE:ALL)

Alteri Wealth LLC acquired a new position in The Allstate Co. (NYSE:ALL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,552 shares of the insurance provider's stock, valued at approximately $492,000.

Other institutional investors have also recently made changes to their positions in the company. Aptus Capital Advisors LLC raised its stake in shares of Allstate by 48.5% during the 4th quarter. Aptus Capital Advisors LLC now owns 5,197 shares of the insurance provider's stock valued at $1,004,000 after buying an additional 1,697 shares during the last quarter. Aspire Growth Partners LLC acquired a new stake in Allstate during the fourth quarter worth about $452,000. AXA S.A. raised its position in Allstate by 85.4% during the fourth quarter. AXA S.A. now owns 33,470 shares of the insurance provider's stock valued at $6,453,000 after acquiring an additional 15,415 shares in the last quarter. AlTi Global Inc. lifted its holdings in Allstate by 2.0% in the fourth quarter. AlTi Global Inc. now owns 3,566 shares of the insurance provider's stock valued at $690,000 after acquiring an additional 71 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Allstate in the 4th quarter worth approximately $16,916,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Stock Up 1.0 %

ALL stock opened at $199.15 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average of $198.49 and a two-hundred day moving average of $194.87. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91. The company has a market cap of $52.80 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.01 and a beta of 0.32.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a return on equity of 28.20% and a net margin of 7.28%. The company had revenue of $14.30 billion for the quarter, compared to analysts' expectations of $16.41 billion. During the same quarter in the previous year, the business posted $5.13 EPS. The business's quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

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

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a yield of 2.01%. Allstate's payout ratio is 27.32%.

Insider Buying and Selling at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on ALL shares. Keefe, Bruyette & Woods decreased their target price on shares of Allstate from $240.00 to $228.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. 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 note on Tuesday, January 14th. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. StockNews.com upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Barclays cut their price objective on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $221.60.

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.

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