The Allstate Co. (NYSE:ALL) Shares Sold by Sei Investments Co.

Sei Investments Co. reduced its stake in The Allstate Co. (NYSE:ALL) by 11.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 365,174 shares of the insurance provider’s stock after selling 46,328 shares during the quarter. Sei Investments Co. owned about 0.14% of Allstate worth $70,403,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ALL. VSM Wealth Advisory LLC acquired a new stake in shares of Allstate during the fourth quarter worth $25,000. FSA Wealth Management LLC purchased a new position in Allstate in the 3rd quarter worth $26,000. Twin Tree Management LP acquired a new stake in Allstate during the 4th quarter worth about $27,000. Vision Financial Markets LLC purchased a new stake in Allstate during the 4th quarter valued at about $29,000. Finally, Hopwood Financial Services Inc. acquired a new position in shares of Allstate in the fourth quarter valued at about $29,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on ALL shares. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Piper Sandler raised their target price on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Barclays cut 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. Finally, Wells Fargo & Company upped their target price on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Stock Performance

Shares of ALL stock opened at $206.60 on Monday. The Allstate Co. has a one year low of $156.66 and a one year high of $212.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The firm’s 50 day moving average price is $193.75 and its 200-day moving average price is $193.12. The firm has a market cap of $54.76 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL) last issued its quarterly 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 net margin of 7.28% and a return on equity of 28.20%. As a group, equities research analysts predict that The Allstate Co. will post 18.74 EPS for the current year.

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

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.00 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 1.94%. Allstate’s dividend payout ratio (DPR) is 23.54%.

About Allstate

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.