NewEdge Advisors LLC Raises Stake in The Allstate Co. (NYSE:ALL)

NewEdge Advisors LLC grew its stake in The Allstate Co. (NYSE:ALL) by 18.5% during the fourth quarter, HoldingsChannel reports. The firm owned 26,091 shares of the insurance provider’s stock after purchasing an additional 4,082 shares during the quarter. NewEdge Advisors LLC’s holdings in Allstate were worth $5,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Apella Capital LLC increased its holdings in Allstate by 1.9% in the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock valued at $623,000 after buying an additional 60 shares during the last quarter. Intrust Bank NA increased its holdings in shares of Allstate by 0.5% in the 4th quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider’s stock valued at $2,340,000 after acquiring an additional 61 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of Allstate by 2.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock valued at $571,000 after acquiring an additional 62 shares in the last quarter. Mather Group LLC. boosted its holdings in Allstate by 1.7% in the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock worth $697,000 after purchasing an additional 62 shares during the period. Finally, Angeles Wealth Management LLC increased its stake in Allstate by 4.6% during the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock valued at $270,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ALL shares. Keefe, Bruyette & Woods reduced their price target on shares of Allstate from $240.00 to $228.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. increased their price target on Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 8th. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Finally, StockNews.com lowered Allstate from a “buy” rating to a “hold” rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $219.27.

Allstate Stock Up 0.2 %

NYSE ALL opened at $194.61 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 company has a market capitalization of $51.58 billion, a P/E ratio of 11.45, a PEG ratio of 1.01 and a beta of 0.36. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91. The company’s 50 day simple moving average is $197.27 and its 200 day simple moving average is $194.37.

Allstate (NYSE:ALL) last announced 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%. Equities research analysts expect that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a $1.00 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Monday, March 10th. Allstate’s dividend payout ratio (DPR) is 23.54%.

Allstate declared that its board has authorized a stock repurchase 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 purchase up to 3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. The trade was 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 hyperlink. 1.80% of the stock is owned by company insiders.

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.