Twin Tree Management LP Buys New Stake in The Allstate Co. (NYSE:ALL)

Twin Tree Management LP bought a new stake in The Allstate Co. (NYSE:ALL) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 139 shares of the insurance provider’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALL. FSA Wealth Management LLC acquired a new position in Allstate in the 3rd quarter valued at $26,000. Vision Financial Markets LLC acquired a new position in Allstate in the 4th quarter valued at $29,000. Hopwood Financial Services Inc. acquired a new position in Allstate in the 4th quarter valued at $29,000. Peoples Bank KS acquired a new position in Allstate in the 4th quarter valued at $49,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Allstate in the 4th quarter worth $53,000. 76.47% of the stock is currently 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 business’s 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 completion of the transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on ALL. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price target on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. 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 report on Tuesday, November 26th. Finally, Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. One equities 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 company. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $217.94.

Allstate Trading Down 0.3 %

Shares of ALL stock opened at $204.77 on Thursday. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $211.15. The company has a market capitalization of $54.27 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.01 and a beta of 0.47. The firm has a 50-day moving average price of $192.87 and a 200 day moving average price of $192.82. 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 announced 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 net margin of 7.28% and a return on equity of 28.20%. Research analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its Board of Directors has authorized a share buyback 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is 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 issued a dividend of $1.00 per share. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s dividend payout ratio (DPR) is currently 23.54%.

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.