Atalanta Sosnoff Capital LLC Lowers Stock Holdings in The Allstate Co. (NYSE:ALL)

Atalanta Sosnoff Capital LLC lessened its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 473,159 shares of the insurance provider's stock after selling 8,154 shares during the period. Allstate accounts for about 2.0% of Atalanta Sosnoff Capital LLC's portfolio, making the stock its 14th biggest position. Atalanta Sosnoff Capital LLC owned about 0.18% of Allstate worth $91,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. AXA S.A. increased its position in Allstate by 85.4% during the 4th quarter. AXA S.A. now owns 33,470 shares of the insurance provider's stock worth $6,453,000 after purchasing an additional 15,415 shares in the last quarter. AlTi Global Inc. boosted its holdings in shares of Allstate by 2.0% during the 4th 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 in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Allstate during the 4th quarter worth $16,916,000. Itau Unibanco Holding S.A. acquired a new position in Allstate in the 4th quarter worth about $57,000. Finally, Keel Point LLC raised its position in Allstate by 15.3% in the fourth quarter. Keel Point LLC now owns 2,632 shares of the insurance provider's stock valued at $507,000 after purchasing an additional 350 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on ALL. Barclays reduced their target price on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Morgan Stanley raised their price objective on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday. Evercore ISI increased their target price on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $225.20.

Insider Buying and Selling

In other Allstate 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 of the company's stock, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

Allstate Stock Up 1.0 %

Shares of ALL traded up $2.12 during trading hours on Wednesday, reaching $204.18. 1,169,933 shares of the stock traded hands, compared to its average volume of 1,615,759. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. The company has a market cap of $54.07 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.01 and a beta of 0.32. The stock has a fifty day simple moving average of $198.88 and a 200 day simple moving average of $194.95. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share 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 business had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. During the same quarter in the previous year, the firm earned $5.13 EPS. Allstate's quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts forecast that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 1.96%. This is a positive change from Allstate's previous quarterly dividend of $0.92. Allstate's dividend payout ratio is presently 27.32%.

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

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.