Mutual of America Capital Management LLC Decreases Stock Position in The Allstate Co. (NYSE:ALL)

Mutual of America Capital Management LLC cut its position in The Allstate Co. (NYSE:ALL) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,723 shares of the insurance provider’s stock after selling 792 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Allstate were worth $6,116,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in shares of Allstate by 1.1% in the third quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock valued at $2,190,758,000 after purchasing an additional 126,922 shares during the period. Geode Capital Management LLC boosted its stake in shares of Allstate by 1.2% in the third quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock valued at $1,178,164,000 after purchasing an additional 74,537 shares during the period. Strategic Financial Concepts LLC boosted its stake in shares of Allstate by 15,062.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock valued at $215,757,000 after purchasing an additional 1,111,748 shares during the period. FMR LLC boosted its stake in shares of Allstate by 11.8% in the third quarter. FMR LLC now owns 933,352 shares of the insurance provider’s stock valued at $177,010,000 after purchasing an additional 98,179 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Allstate by 0.3% in the third quarter. Swiss National Bank now owns 783,300 shares of the insurance provider’s stock valued at $148,553,000 after purchasing an additional 2,400 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Up 1.4 %

Shares of NYSE:ALL opened at $201.87 on Tuesday. The stock has a market capitalization of $53.50 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The Allstate Co. has a 1-year low of $153.87 and a 1-year high of $209.88. The company’s fifty day moving average is $190.43 and its two-hundred day moving average is $191.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping 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%. Equities analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

Allstate announced that its board has authorized a share buyback program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio (DPR) is 23.54%.

Insider Buying and Selling

In related news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ALL shares. Morgan Stanley upped their target price on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Barclays reduced their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Piper Sandler increased their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, UBS Group increased their price objective on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

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.