AXQ Capital LP Boosts Stock Position in The Allstate Co. (NYSE:ALL)

AXQ Capital LP boosted its holdings in The Allstate Co. (NYSE:ALL) by 14.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,997 shares of the insurance provider’s stock after buying an additional 646 shares during the quarter. AXQ Capital LP’s holdings in Allstate were worth $963,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ALL. Strategic Financial Concepts LLC boosted its stake in Allstate by 15,062.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock valued at $215,757,000 after acquiring an additional 1,111,748 shares in the last quarter. National Pension Service boosted its stake in Allstate by 69.7% in the fourth quarter. National Pension Service now owns 708,098 shares of the insurance provider’s stock valued at $136,514,000 after acquiring an additional 290,858 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in Allstate by 22,981.9% in the fourth quarter. Proficio Capital Partners LLC now owns 269,135 shares of the insurance provider’s stock valued at $51,887,000 after acquiring an additional 267,969 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Allstate by 291.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider’s stock valued at $67,528,000 after acquiring an additional 265,213 shares in the last quarter. Finally, Prana Capital Management LP boosted its stake in Allstate by 539.9% in the third quarter. Prana Capital Management LP now owns 273,655 shares of the insurance provider’s stock valued at $51,899,000 after acquiring an additional 230,893 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Piper Sandler upped their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods increased their target price on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Wells Fargo & Company increased their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Finally, Barclays reduced their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $217.94.

Insiders Place Their Bets

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction on Monday, February 10th. The shares were sold at an average price of $186.53, for a total value of $7,480,226.06. Following the transaction, the chief financial officer now owns 18,115 shares in the company, 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 Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by corporate insiders.

Allstate Trading Down 1.7 %

Shares of ALL opened at $206.60 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 firm has a 50 day simple moving average of $193.75 and a 200-day simple moving average of $193.07. The Allstate Co. has a 1-year low of $156.66 and a 1-year high of $212.91. The stock has a market cap of $54.76 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Equities analysts forecast that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently announced 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 is a boost from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s payout ratio is presently 23.54%.

Allstate declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.