The Allstate Co. (NYSE:ALL) Shares Purchased by abrdn plc

abrdn plc boosted its position in shares of The Allstate Co. (NYSE:ALL) by 70.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,903 shares of the insurance provider’s stock after acquiring an additional 45,254 shares during the quarter. abrdn plc’s holdings in Allstate were worth $15,384,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ALL. AE Wealth Management LLC increased its stake in Allstate by 18.2% during the 3rd quarter. AE Wealth Management LLC now owns 13,363 shares of the insurance provider’s stock worth $1,489,000 after buying an additional 2,059 shares during the period. IFP Advisors Inc raised its holdings in Allstate by 171.1% during the third quarter. IFP Advisors Inc now owns 930 shares of the insurance provider’s stock worth $104,000 after purchasing an additional 587 shares in the last quarter. RFG Advisory LLC purchased a new stake in shares of Allstate during the 3rd quarter worth approximately $213,000. Flagship Harbor Advisors LLC acquired a new position in shares of Allstate in the 3rd quarter valued at $202,000. Finally, Washington Trust Advisors Inc. grew its position in shares of Allstate by 13.2% in the 3rd quarter. Washington Trust Advisors Inc. now owns 1,720 shares of the insurance provider’s stock valued at $192,000 after buying an additional 200 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of research analyst reports. TheStreet upgraded Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. TD Cowen started coverage on Allstate in a report on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 price objective for the company. BMO Capital Markets lifted their target price on shares of Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a report on Friday, January 19th. Morgan Stanley increased their price target on shares of Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Raymond James lifted their price objective on shares of Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $173.71.

Allstate Price Performance

Shares of NYSE ALL opened at $172.27 on Thursday. The company’s fifty day moving average is $164.72 and its two-hundred day moving average is $148.59. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market capitalization of $45.32 billion, a P/E ratio of -138.93, a PEG ratio of 0.43 and a beta of 0.52. The Allstate Co. has a one year low of $100.57 and a one year high of $176.93.

Allstate (NYSE:ALL) last issued its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, topping the consensus estimate of $3.87 by $1.95. The company had revenue of $14.83 billion for 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 revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.36) earnings per share. Analysts forecast that The Allstate Co. will post 13.44 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.14%. This is an increase from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s payout ratio is presently -296.77%.

Insider Buying and Selling at Allstate

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