Weatherly Asset Management L. P. Has $1.29 Million Stake in The Allstate Co. (NYSE:ALL)

Weatherly Asset Management L. P. decreased its position in shares of The Allstate Co. (NYSE:ALL – Get Rating) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,450 shares of the insurance provider’s stock after selling 140 shares during the period. Weatherly Asset Management L. P.’s holdings in Allstate were worth $1,290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Heritage Wealth Management LLC acquired a new position in Allstate during the 2nd quarter worth $30,000. Standard Family Office LLC acquired a new position in shares of Allstate during the third quarter valued at about $37,000. Wagner Wealth Management LLC acquired a new position in shares of Allstate during the second quarter valued at about $40,000. First Personal Financial Services acquired a new position in shares of Allstate during the third quarter valued at about $43,000. Finally, Hexagon Capital Partners LLC raised its position in shares of Allstate by 28.1% during the third quarter. Hexagon Capital Partners LLC now owns 356 shares of the insurance provider’s stock valued at $44,000 after buying an additional 78 shares during the last quarter. Institutional investors and hedge funds own 77.48% of the company’s stock.

Allstate Price Performance

Allstate stock traded down $6.99 during trading hours on Friday, hitting $105.11. 9,352,191 shares of the stock were exchanged, compared to its average volume of 1,910,963. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market capitalization of $27.68 billion, a P/E ratio of -19.76, a P/E/G ratio of 2.39 and a beta of 0.59. The Allstate Co. has a 12 month low of $104.32 and a 12 month high of $144.46. The business’s 50-day moving average is $129.42 and its two-hundred day moving average is $129.73.

Allstate (NYSE:ALL – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The insurance provider reported ($1.36) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.01. Allstate had a negative net margin of 2.55% and a negative return on equity of 1.04%. The firm had revenue of $13.55 billion for the quarter, compared to analysts’ expectations of $13.45 billion. During the same period in the prior year, the firm earned $2.75 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts expect that The Allstate Co. will post 6.81 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Tuesday, February 28th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 3.39%. This is a positive change from Allstate’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Monday, February 27th. Allstate’s dividend payout ratio (DPR) is presently -66.92%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Piper Sandler upped their price objective on shares of Allstate from $147.00 to $153.00 and gave the company an “overweight” rating in a research report on Tuesday, January 10th. TheStreet lowered shares of Allstate from a “b-” rating to a “c+” rating in a research report on Wednesday, March 8th. Evercore ISI dropped their price target on shares of Allstate from $144.00 to $138.00 and set an “in-line” rating for the company in a research report on Thursday, February 2nd. Citigroup dropped their price target on shares of Allstate from $160.00 to $150.00 in a research report on Thursday, January 19th. Finally, Barclays dropped their price target on shares of Allstate from $144.00 to $126.00 and set an “equal weight” rating for the company in a research report on Friday, January 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $147.31.

Insider Activity

In other news, CFO Jesse E. Merten sold 29,451 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $134.18, for a total transaction of $3,951,735.18. Following the transaction, the chief financial officer now owns 16,668 shares of the company’s stock, valued at $2,236,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.77% of the company’s stock.

Allstate Profile

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The Allstate Corp. engages in the property and casualty insurance business and the provision of protection solutions. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property-Liability, and Corporate and Other. The Allstate Protection segment offers private passenger auto, homeowners, other personal lines, and commercial insurance marketed under the Allstate, National General, and Answer Financial brand names.