Prudential Financial Inc. Has $140.34 Million Stock Holdings in The Allstate Co. (NYSE:ALL)

Prudential Financial Inc. grew its position in The Allstate Co. (NYSE:ALL) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 727,936 shares of the insurance provider’s stock after acquiring an additional 7,473 shares during the quarter. Prudential Financial Inc. owned 0.27% of Allstate worth $140,339,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Allstate by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider’s stock valued at $6,291,783,000 after acquiring an additional 389,426 shares during the period. State Street Corp lifted its position in shares of Allstate by 1.1% during the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after buying an additional 126,922 shares during the period. Geode Capital Management LLC boosted its stake in Allstate by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock valued at $1,178,164,000 after buying an additional 74,537 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Allstate by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,834,172 shares of the insurance provider’s stock valued at $353,610,000 after acquiring an additional 19,463 shares during the period. Finally, Strategic Financial Concepts LLC raised its stake in Allstate by 15,062.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock worth $215,757,000 after acquiring an additional 1,111,748 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $206.60 on Monday. The firm has a market cap of $54.76 billion, a PE ratio of 12.16, a P/E/G ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91. The company’s fifty day simple moving average is $193.75 and its 200-day simple moving average is $193.12. 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 posted its quarterly earnings data 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%. Equities research analysts expect that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate announced that its board has initiated a share buyback 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 usually an indication that the company’s leadership believes its stock is undervalued.

Allstate Increases Dividend

The business also recently disclosed 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. This represents a $4.00 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is presently 23.54%.

Insider Activity at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the firm’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 sale, the chief financial officer now directly owns 18,115 shares in the company, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

ALL has been the topic of several analyst reports. Wells Fargo & Company upped their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Piper Sandler lifted their target price 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 Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Finally, Barclays cut their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus 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.