HighPoint Advisor Group LLC Increases Stake in The Allstate Co. (NYSE:ALL)

HighPoint Advisor Group LLC raised its position in shares of The Allstate Co. (NYSE:ALL) by 4.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,437 shares of the insurance provider’s stock after purchasing an additional 1,323 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Allstate were worth $6,334,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Apella Capital LLC increased its position in Allstate by 1.9% in the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock worth $623,000 after purchasing an additional 60 shares during the last quarter. Intrust Bank NA grew its stake in shares of Allstate by 0.5% in the 4th quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider’s stock worth $2,340,000 after buying an additional 61 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Allstate by 2.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock worth $571,000 after buying an additional 62 shares during the last quarter. Mather Group LLC. raised its position in shares of Allstate by 1.7% during the 4th quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock valued at $697,000 after buying an additional 62 shares in the last quarter. Finally, Angeles Wealth Management LLC lifted its holdings in shares of Allstate by 4.6% in the 4th quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock valued at $270,000 after acquiring an additional 62 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the business’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 of the company’s stock, valued at $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods raised their price target on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Barclays dropped their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company raised 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. Finally, Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $219.80.

Allstate Stock Down 1.4 %

Shares of NYSE:ALL opened at $206.46 on Monday. The business’s 50 day moving average is $195.81 and its 200 day moving average is $193.91. The stock has a market cap of $54.72 billion, a P/E ratio of 12.15, 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 $212.91. 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 results 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 predict that The Allstate Co. will post 18.74 EPS for the current year.

Allstate announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is 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 $1.00 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.00 annualized dividend and a dividend yield of 1.94%. This is a positive change from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is currently 23.54%.

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.