NewEdge Wealth LLC Invests $219,000 in The Allstate Co. (NYSE:ALL)

NewEdge Wealth LLC acquired a new position in 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 (SEC). The fund acquired 1,567 shares of the insurance provider’s stock, valued at approximately $219,000.

Other institutional investors have also made changes to their positions in the company. Ellsworth Advisors LLC bought a new stake in shares of Allstate in the fourth quarter worth $4,312,000. SteelPeak Wealth LLC raised its position in Allstate by 175.2% during the fourth quarter. SteelPeak Wealth LLC now owns 15,682 shares of the insurance provider’s stock worth $2,209,000 after acquiring an additional 9,984 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Allstate by 484.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock worth $46,488,000 after acquiring an additional 275,319 shares in the last quarter. Meeder Asset Management Inc. raised its position in Allstate by 214.6% during the fourth quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock worth $220,000 after acquiring an additional 1,071 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in Allstate by 88.7% during the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider’s stock worth $3,429,000 after acquiring an additional 11,512 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 3.8 %

ALL opened at $169.12 on Friday. The stock has a market capitalization of $44.49 billion, a price-to-earnings ratio of -136.39, a P/E/G ratio of 0.40 and a beta of 0.52. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $174.57. The company has a 50-day simple moving average of $163.59 and a 200 day simple moving average of $146.60.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $1.95. The business had revenue of $14.83 billion during the quarter, compared to analyst estimates of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business earned ($1.36) EPS. Analysts predict that The Allstate Co. will post 13.5 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.92 per share. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.18%. Allstate’s dividend payout ratio (DPR) is -296.77%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ALL. Jefferies Financial Group raised shares of Allstate from a “hold” rating to a “buy” rating and upped their price target for the stock from $130.00 to $180.00 in a research report on Tuesday, January 9th. Wells Fargo & Company upped their price objective on shares of Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Piper Sandler upped their price target on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. upped their price target on shares of Allstate from $172.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, UBS Group upped their price target on shares of Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $173.71.

Insider Transactions at Allstate

In related news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the sale, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

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.