Levin Capital Strategies L.P. Has $227,000 Stock Position in The Allstate Co. (NYSE:ALL)

Levin Capital Strategies L.P. decreased its stake in shares of The Allstate Co. (NYSE:ALL) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,175 shares of the insurance provider’s stock after selling 125 shares during the period. Levin Capital Strategies L.P.’s holdings in Allstate were worth $227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ALL. FSA Wealth Management LLC acquired a new position in Allstate during the 3rd quarter worth about $26,000. Catalyst Capital Advisors LLC acquired a new position in Allstate during the 3rd quarter worth about $29,000. Peoples Bank KS acquired a new position in Allstate during the 4th quarter worth about $49,000. Stonebridge Financial Group LLC acquired a new position in Allstate during the 4th quarter worth about $53,000. Finally, Golden State Wealth Management LLC acquired a new position in Allstate during the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling

In related news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

Allstate Stock Performance

Shares of ALL stock opened at $199.20 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The stock has a market cap of $52.79 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The stock has a 50-day moving average of $190.26 and a 200-day moving average of $191.04. The Allstate Co. has a one year low of $153.87 and a one year high of $209.88.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. As a group, sell-side analysts expect that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate announced that its board has initiated a share repurchase program on Wednesday, February 26th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.01%. This is a boost from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. Allstate’s dividend payout ratio is presently 21.66%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ALL shares. Piper Sandler upped their target price on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods upped their target price on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. The Goldman Sachs Group upped their target price on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Morgan Stanley upped their target price on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group upped their target price on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $217.94.

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.