Cerity Partners LLC Raises Stake in The Allstate Co. (NYSE:ALL)

Cerity Partners LLC lifted its stake in The Allstate Co. (NYSE:ALL) by 64.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,459 shares of the insurance provider’s stock after purchasing an additional 7,626 shares during the period. Cerity Partners LLC’s holdings in Allstate were worth $2,726,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Allstate by 11.5% during the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after acquiring an additional 3,322,673 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Allstate by 123.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,540,295 shares of the insurance provider’s stock valued at $751,264,000 after purchasing an additional 3,064,105 shares during the last quarter. Cowa LLC purchased a new position in shares of Allstate in the first quarter valued at $30,000. Norges Bank acquired a new position in shares of Allstate during the 4th quarter worth $190,865,000. Finally, Invesco Ltd. boosted its position in shares of Allstate by 46.6% in the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after buying an additional 1,311,095 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Transactions at Allstate

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a filing with the SEC, which is available at this link. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $169.12 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market capitalization of $44.49 billion, a price-to-earnings ratio of -136.39, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52. The Allstate Co. has a one year low of $100.57 and a one year high of $174.57. The company has a 50 day moving average price of $163.59 and a 200 day moving average price of $146.60.

Allstate (NYSE:ALL) last released its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $1.95. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The business had revenue of $14.83 billion during the quarter, compared to the consensus estimate of $12.69 billion. During the same period in the prior year, the firm posted ($1.36) EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that The Allstate Co. will post 13.5 EPS for the current year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.92 dividend. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Friday, March 1st. Allstate’s payout ratio is currently -296.77%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ALL shares. UBS Group lifted their target price on shares of Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. TD Cowen started coverage on Allstate in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 target price on the stock. Piper Sandler raised their price target on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Morgan Stanley upped their price objective on Allstate from $187.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Roth Mkm lifted their price objective on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.71.

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.