Keybank National Association OH Raises Position in The Allstate Co. (NYSE:ALL)

Keybank National Association OH increased its position in The Allstate Co. (NYSE:ALL) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 344,875 shares of the insurance provider’s stock after purchasing an additional 5,786 shares during the period. Keybank National Association OH’s holdings in Allstate were worth $66,489,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Financial Concepts LLC increased its holdings in Allstate by 15,062.3% in the 4th 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. TimesSquare Capital Management LLC bought a new stake in shares of Allstate in the 3rd quarter valued at about $77,819,000. Los Angeles Capital Management LLC grew its stake in shares of Allstate by 688.4% during the third quarter. Los Angeles Capital Management LLC now owns 460,282 shares of the insurance provider’s stock worth $87,292,000 after acquiring an additional 401,901 shares during the last quarter. National Pension Service increased its holdings in shares of Allstate by 69.7% in the fourth quarter. National Pension Service now owns 708,098 shares of the insurance provider’s stock valued at $136,514,000 after purchasing an additional 290,858 shares during the period. Finally, Proficio Capital Partners LLC lifted its position in Allstate by 22,981.9% during the fourth quarter. Proficio Capital Partners LLC now owns 269,135 shares of the insurance provider’s stock valued at $51,887,000 after purchasing an additional 267,969 shares during the period. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALL. Barclays decreased their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group lifted their target price on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Piper Sandler upped their price objective on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Jefferies Financial Group upped their price target on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, UBS Group increased their price target on shares of Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, November 4th. One investment 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Allstate Price Performance

Shares of ALL stock opened at $201.87 on Tuesday. 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 firm’s 50 day moving average is $190.43 and its 200-day moving average is $191.27. The Allstate Co. has a 1 year low of $153.87 and a 1 year high of $209.88. The firm has a market capitalization of $53.50 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.01 and a beta of 0.52.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share 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%. Sell-side analysts forecast that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.98%. Allstate’s payout ratio is presently 23.54%.

Allstate declared that its board has initiated a share buyback plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

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.