1,493 Shares in The Allstate Co. (NYSE:ALL) Purchased by Flagship Wealth Advisors LLC

Flagship Wealth Advisors LLC acquired a new position in shares of The Allstate Co. (NYSE:ALL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,493 shares of the insurance provider’s stock, valued at approximately $288,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Financial Concepts LLC increased its position in shares of Allstate by 15,062.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock valued at $215,757,000 after purchasing an additional 1,111,748 shares during the last quarter. National Pension Service grew its position in Allstate by 69.7% during the 4th quarter. National Pension Service now owns 708,098 shares of the insurance provider’s stock worth $136,514,000 after acquiring an additional 290,858 shares during the last quarter. Proficio Capital Partners LLC grew its position in Allstate by 22,981.9% during the 4th quarter. Proficio Capital Partners LLC now owns 269,135 shares of the insurance provider’s stock worth $51,887,000 after acquiring an additional 267,969 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Allstate by 291.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider’s stock worth $67,528,000 after acquiring an additional 265,213 shares during the last quarter. Finally, Prana Capital Management LP grew its position in Allstate by 539.9% during the 3rd quarter. Prana Capital Management LP now owns 273,655 shares of the insurance provider’s stock worth $51,899,000 after acquiring an additional 230,893 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Shares of Allstate stock opened at $207.68 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The Allstate Co. has a twelve month low of $156.66 and a twelve month high of $209.88. The business has a 50-day moving average price of $191.72 and a 200 day moving average price of $192.47. The firm has a market cap of $55.04 billion, a PE ratio of 12.22, a P/E/G ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating 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%. Sell-side analysts predict that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is currently 23.54%.

Allstate declared that its board has authorized a stock buyback 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 stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ALL shares. Barclays reduced their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. Keefe, Bruyette & Woods boosted their target price on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Piper Sandler boosted their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Argus upgraded Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Insider Buying and Selling at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were 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 $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.

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.