Schrum Private Wealth Management LLC Takes $328,000 Position in The Allstate Co. (NYSE:ALL)

Schrum Private Wealth Management LLC purchased a new stake in shares of The Allstate Co. (NYSE:ALL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,700 shares of the insurance provider’s stock, valued at approximately $328,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in shares of Allstate in the third quarter worth $26,000. Vision Financial Markets LLC purchased a new position in Allstate in the fourth quarter valued at about $29,000. Catalyst Capital Advisors LLC purchased a new position in Allstate in the third quarter valued at about $29,000. Peoples Bank KS purchased a new stake in shares of Allstate in the fourth quarter worth about $49,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Allstate in the fourth quarter valued at about $53,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was 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 represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Allstate Trading Up 0.3 %

Allstate stock opened at $199.65 on Thursday. The firm has a 50-day moving average price of $190.58 and a two-hundred day moving average price of $191.47. The Allstate Co. has a 52-week low of $154.76 and a 52-week high of $209.88. The firm has a market capitalization of $52.91 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.01 and a beta of 0.52. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. Sell-side analysts expect that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate announced that its board has authorized a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. Allstate’s dividend payout ratio (DPR) is 23.54%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley boosted their price target on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Jefferies Financial Group lifted 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. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Piper Sandler lifted 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. Finally, The Goldman Sachs Group upped their price objective on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Allstate Company 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.