Versor Investments LP Trims Stake in The Allstate Co. (NYSE:ALL)

Versor Investments LP lowered its position in The Allstate Co. (NYSE:ALL) by 48.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,302 shares of the insurance provider’s stock after selling 5,007 shares during the quarter. Versor Investments LP’s holdings in Allstate were worth $1,022,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ALL. FSA Wealth Management LLC purchased a new stake in shares of Allstate in the third quarter valued at $26,000. Catalyst Capital Advisors LLC purchased a new position in Allstate in the 3rd quarter worth about $29,000. Peoples Bank KS purchased a new position in Allstate in the 4th quarter worth about $49,000. Stonebridge Financial Group LLC purchased a new position in Allstate in the 4th quarter worth about $53,000. Finally, Golden State Wealth Management LLC purchased a new position in Allstate in the 4th quarter worth about $57,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ALL shares. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Piper Sandler raised their price target on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Jefferies Financial Group raised their price target on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. UBS Group raised their price target on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Morgan Stanley raised their target price on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Allstate Stock Up 3.5 %

NYSE:ALL opened at $195.01 on Friday. The Allstate Co. has a fifty-two week low of $153.87 and a fifty-two week high of $209.88. The stock has a market capitalization of $51.68 billion, a P/E ratio of 11.48, a P/E/G ratio of 1.01 and a beta of 0.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The company’s 50-day simple moving average is $190.15 and its 200-day simple moving average is $190.71.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. On average, equities analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.00 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a yield of 2.05%. Allstate’s dividend payout ratio (DPR) is 21.66%.

Allstate announced that its board has approved a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the sale, the chief financial officer now directly owns 18,115 shares in the company, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by company 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.