The Allstate Co. (NYSE:ALL) Stock Position Boosted by abrdn plc

abrdn plc raised its position in shares of The Allstate Co. (NYSE:ALL) by 70.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 109,903 shares of the insurance provider’s stock after buying an additional 45,254 shares during the period. abrdn plc’s holdings in Allstate were worth $15,384,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Ellsworth Advisors LLC acquired a new position in shares of Allstate in the 4th quarter valued at $4,312,000. SteelPeak Wealth LLC increased its position in shares of Allstate by 175.2% in 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 holdings in shares of Allstate by 484.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock valued at $46,488,000 after acquiring an additional 275,319 shares during the period. Meeder Asset Management Inc. lifted its position in shares of Allstate by 214.6% in the 4th quarter. Meeder Asset Management Inc. now owns 1,570 shares of the insurance provider’s stock valued at $220,000 after acquiring an additional 1,071 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Allstate by 88.7% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 24,496 shares of the insurance provider’s stock worth $3,429,000 after purchasing an additional 11,512 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Down 1.7 %

Shares of NYSE:ALL opened at $172.27 on Thursday. The company has a market capitalization of $45.32 billion, a PE ratio of -138.93, a P/E/G ratio of 0.43 and a beta of 0.52. 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 company’s fifty day moving average is $164.72 and its 200-day moving average is $148.59. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $176.93.

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 the consensus estimate of $3.87 by $1.95. The firm had revenue of $14.83 billion during the quarter, compared to the consensus estimate of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.36) EPS. Equities research analysts predict that The Allstate Co. will post 13.44 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.92 dividend. The ex-dividend date was Friday, March 1st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio (DPR) is currently -296.77%.

Analyst Ratings Changes

Several analysts have recently commented on ALL shares. Evercore ISI raised their target price on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. raised their price objective on Allstate from $172.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Raymond James upped their target price on Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a report on Monday, January 22nd. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Roth Mkm upped their price objective on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.71.

Insider Buying and Selling

In other news, insider John E. Dugenske sold 31,000 shares of the company’s 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 transaction, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,712,069.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the 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 $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

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.