HBK Sorce Advisory LLC Purchases New Position in The Allstate Co. (NYSE:ALL)

HBK Sorce Advisory LLC purchased a new stake in The Allstate Co. (NYSE:ALL) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,447 shares of the insurance provider’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in Allstate in the fourth quarter valued at approximately $106,000. Valley National Advisers Inc. boosted its holdings in Allstate by 696.4% in the fourth quarter. Valley National Advisers Inc. now owns 661 shares of the insurance provider’s stock valued at $92,000 after purchasing an additional 578 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in Allstate in the fourth quarter valued at approximately $227,000. Bleakley Financial Group LLC boosted its holdings in Allstate by 19.9% in the fourth quarter. Bleakley Financial Group LLC now owns 4,990 shares of the insurance provider’s stock valued at $699,000 after purchasing an additional 827 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in Allstate by 214.6% in the fourth quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock valued at $220,000 after purchasing an additional 1,071 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on 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 transaction, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO John C. Pintozzi sold 4,000 shares of the firm’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 owns 10,736 shares in the company, valued at $1,712,069.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John E. Dugenske sold 31,000 shares of the firm’s 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 completion of the transaction, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALL. HSBC raised Allstate from a “hold” rating to a “buy” rating and upped their price target for the company from $158.00 to $190.00 in a report on Thursday, March 28th. BMO Capital Markets increased their price objective on Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a report on Friday, January 19th. Piper Sandler increased their price objective on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, April 1st. The Goldman Sachs Group increased their price objective on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a report on Monday, March 25th. Finally, UBS Group increased their price objective on Allstate from $171.00 to $185.00 and gave the company a “buy” rating in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.59.

Allstate Price Performance

Shares of NYSE ALL opened at $166.81 on Friday. The stock has a fifty day moving average price of $163.04 and a 200 day moving average price of $145.13. The company has a market cap of $43.88 billion, a PE ratio of -134.52, a P/E/G ratio of 0.42 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. The Allstate Co. has a 1-year low of $100.57 and a 1-year high of $174.57.

Allstate (NYSE:ALL) last released its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $1.95. The firm had revenue of $14.83 billion during the quarter, compared to analysts’ expectations of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. Allstate’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.36) earnings per share. Sell-side analysts forecast that The Allstate Co. will post 13.41 EPS for the current year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.92 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a yield of 2.21%. Allstate’s dividend payout ratio is presently -296.77%.

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.