The Allstate Co. (NYSE:ALL) Shares Sold by Atalanta Sosnoff Capital LLC

Atalanta Sosnoff Capital LLC lowered its position in shares of The Allstate Co. (NYSE:ALL) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 473,159 shares of the insurance provider’s stock after selling 8,154 shares during the period. Allstate accounts for approximately 2.0% of Atalanta Sosnoff Capital LLC’s portfolio, making the stock its 14th largest position. Atalanta Sosnoff Capital LLC’s holdings in Allstate were worth $91,220,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. AXA S.A. lifted its stake in Allstate by 85.4% during the fourth quarter. AXA S.A. now owns 33,470 shares of the insurance provider’s stock worth $6,453,000 after purchasing an additional 15,415 shares during the last quarter. AlTi Global Inc. boosted its holdings in shares of Allstate by 2.0% in the 4th quarter. AlTi Global Inc. now owns 3,566 shares of the insurance provider’s stock valued at $690,000 after buying an additional 71 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Allstate in the 4th quarter valued at $16,916,000. Itau Unibanco Holding S.A. purchased a new position in shares of Allstate in the 4th quarter valued at $57,000. Finally, Keel Point LLC raised its stake in Allstate by 15.3% during the 4th quarter. Keel Point LLC now owns 2,632 shares of the insurance provider’s stock worth $507,000 after acquiring an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Shares of NYSE:ALL opened at $199.15 on Friday. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. The company has a 50-day moving average price of $198.49 and a 200 day moving average price of $194.88. The company has a market cap of $52.80 billion, a P/E ratio of 11.72, a PEG ratio of 1.01 and a beta of 0.32. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $16.41 billion. Allstate had a net margin of 7.28% and a return on equity of 28.20%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $5.13 earnings per share. Research analysts predict that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio (DPR) is currently 27.32%.

Allstate declared that its board has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. StockNews.com upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Thursday. Keefe, Bruyette & Woods reduced their price objective on Allstate from $240.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Evercore ISI lifted their target price on shares of Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $221.60.

Insider Activity at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

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.