The Allstate Co. (NYSE:ALL) Shares Purchased by SVB Wealth LLC

SVB Wealth LLC raised its position in The Allstate Co. (NYSE:ALL) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,169 shares of the insurance provider’s stock after purchasing an additional 72 shares during the period. SVB Wealth LLC’s holdings in Allstate were worth $864,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. Vanguard Group Inc. lifted its holdings in Allstate by 11.5% in the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after purchasing an additional 3,322,673 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Allstate by 123.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,540,295 shares of the insurance provider’s stock valued at $751,264,000 after purchasing an additional 3,064,105 shares in the last quarter. Cowa LLC purchased a new position in Allstate in the 1st quarter valued at about $30,000. Norges Bank purchased a new position in shares of Allstate during the 4th quarter worth about $190,865,000. Finally, Invesco Ltd. lifted its holdings in shares of Allstate by 46.6% during the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after acquiring an additional 1,311,095 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALL. TheStreet upgraded shares of Allstate from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. TD Cowen assumed coverage on shares of Allstate in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 price objective for the company. Piper Sandler increased their price objective on shares of Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. BMO Capital Markets increased 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, Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.71.

Insider Activity

In other news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were 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 owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were 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 owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now directly 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. Corporate insiders own 1.80% of the company’s stock.

Allstate Stock Up 2.3 %

ALL stock opened at $172.96 on Friday. 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. The firm has a fifty day moving average price of $163.84 and a two-hundred day moving average price of $147.03. The firm has a market cap of $45.50 billion, a price-to-earnings ratio of -139.48, a PEG ratio of 0.40 and a beta of 0.52.

Allstate (NYSE:ALL) last released its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $12.69 billion. During the same quarter in the previous year, the firm earned ($1.36) earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts predict that The Allstate Co. will post 13.5 EPS for the current year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a dividend of $0.92 per share. This is an increase 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 dividend yield of 2.13%. Allstate’s payout ratio is -296.77%.

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.