Avantax Advisory Services Inc. Acquires 749 Shares of The Allstate Co. (NYSE:ALL)

Avantax Advisory Services Inc. boosted its holdings in The Allstate Co. (NYSE:ALL) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,078 shares of the insurance provider’s stock after acquiring an additional 749 shares during the period. Avantax Advisory Services Inc.’s holdings in Allstate were worth $4,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ALL. United Bank bought a new stake in Allstate in the 3rd quarter valued at $209,000. Apollon Wealth Management LLC lifted its holdings in shares of Allstate by 2.7% during the third quarter. Apollon Wealth Management LLC now owns 5,901 shares of the insurance provider’s stock worth $1,119,000 after buying an additional 157 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Allstate in the third quarter valued at about $284,000. Harbour Investments Inc. grew its stake in shares of Allstate by 5.4% in the third quarter. Harbour Investments Inc. now owns 2,503 shares of the insurance provider’s stock valued at $475,000 after acquiring an additional 128 shares in the last quarter. Finally, Aptus Capital Advisors LLC grew its stake in shares of Allstate by 3.0% in the third quarter. Aptus Capital Advisors LLC now owns 3,500 shares of the insurance provider’s stock valued at $664,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler upped their price target 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. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. The Goldman Sachs Group upped their price target on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays decreased their price target 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. Finally, Keefe, Bruyette & Woods upped their price target on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

Insider Transactions at Allstate

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

Allstate Stock Up 2.8 %

ALL stock opened at $207.68 on Friday. The stock has a market capitalization of $55.04 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $209.88. The firm has a 50-day moving average price of $191.72 and a 200-day moving average price of $192.38.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS 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%. As a group, equities research analysts anticipate that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.00 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is 23.54%.

Allstate declared that its Board of Directors has initiated a share 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 buy up to 3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.