The Allstate Co. (NYSE:ALL) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of The Allstate Co. (NYSE:ALL) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 427,711 shares of the insurance provider’s stock after selling 12,205 shares during the quarter. Thrivent Financial for Lutherans owned about 0.16% of Allstate worth $82,466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Allstate by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock valued at $109,605,000 after acquiring an additional 28,584 shares during the last quarter. Ameritas Advisory Services LLC grew its holdings in shares of Allstate by 117.3% during the 4th quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock worth $944,000 after purchasing an additional 2,643 shares during the period. Hennessy Advisors Inc. grew its holdings in shares of Allstate by 6.9% during the 4th quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider’s stock worth $11,297,000 after purchasing an additional 3,800 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Allstate by 10.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider’s stock worth $98,065,000 after purchasing an additional 48,382 shares during the period. Finally, Artemis Investment Management LLP grew its holdings in shares of Allstate by 33.3% during the 4th quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider’s stock worth $77,413,000 after purchasing an additional 100,311 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity at Allstate

In related 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 transaction of $7,480,226.06. Following the sale, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Allstate stock opened at $205.02 on Wednesday. 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 stock has a market cap of $54.33 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $211.15. The stock has a 50 day moving average of $192.60 and a 200-day moving average of $192.74.

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

Allstate announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.00 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Monday, March 10th. Allstate’s dividend payout ratio is currently 23.54%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALL. Keefe, Bruyette & Woods boosted their target price on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Piper Sandler upped their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Wells Fargo & Company upped their price target on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Finally, Argus upgraded Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.