Ingalls & Snyder LLC Invests $238,000 in The Allstate Co. (NYSE:ALL)

Ingalls & Snyder LLC acquired a new position in The Allstate Co. (NYSE:ALL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,698 shares of the insurance provider’s stock, valued at approximately $238,000.

Other institutional investors have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Allstate in the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Allstate during the 4th quarter valued at about $36,000. First Capital Advisors Group LLC. bought a new position in shares of Allstate during the 2nd quarter valued at about $29,000. Venturi Wealth Management LLC boosted its position in shares of Allstate by 152.7% during the 4th quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 168 shares in the last quarter. Finally, RVW Wealth LLC bought a new position in shares of Allstate during the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Up 0.7 %

Shares of Allstate stock opened at $166.81 on Monday. The Allstate Co. has a 1 year low of $100.57 and a 1 year high of $174.57. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $163.04 and its 200-day simple moving average is $145.58. The company has a market cap of $43.88 billion, a price-to-earnings ratio of -134.52, a PEG ratio of 0.41 and a beta of 0.52.

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

Allstate Increases Dividend

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

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of Allstate 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 completion of the transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALL. The Goldman Sachs Group raised their price objective on shares of Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Evercore ISI raised their price objective on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research report on Thursday. Raymond James raised their price objective on shares of Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research report on Monday, January 22nd. BMO Capital Markets raised their price objective on shares of Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a research report on Friday, January 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of Allstate from $172.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.59.

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.