The Allstate Co. (NYSE:ALL) Shares Sold by NBT Bank N A NY

NBT Bank N A NY decreased its holdings in The Allstate Co. (NYSE:ALL) by 4.2% during the 4th quarter, HoldingsChannel reports. The fund owned 2,309 shares of the insurance provider’s stock after selling 100 shares during the quarter. NBT Bank N A NY’s holdings in Allstate were worth $445,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ALL. Strategic Financial Concepts LLC lifted its stake in shares of Allstate by 15,062.3% in 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. National Pension Service raised its stake in Allstate by 69.7% during the fourth quarter. National Pension Service now owns 708,098 shares of the insurance provider’s stock valued at $136,514,000 after buying an additional 290,858 shares in the last quarter. Proficio Capital Partners LLC raised its stake 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 buying an additional 267,969 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Allstate by 291.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider’s stock valued at $67,528,000 after buying an additional 265,213 shares in the last quarter. Finally, Prana Capital Management LP raised its stake in Allstate by 539.9% during the third quarter. Prana Capital Management LP now owns 273,655 shares of the insurance provider’s stock valued at $51,899,000 after buying an additional 230,893 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 $202.25 on Wednesday. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $209.88. The firm has a market capitalization of $53.60 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The business has a 50 day simple moving average of $191.08 and a 200 day simple moving average of $192.10. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40.

Allstate (NYSE:ALL) last issued its quarterly earnings data 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%. On average, equities research analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.98%. This is a positive change from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. Allstate’s dividend payout ratio is 23.54%.

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

Analyst Ratings Changes

ALL has been the topic of several research reports. Piper Sandler upped their price objective on 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 note on Monday, March 3rd. The Goldman Sachs Group upped their price objective on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods upped their target price on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $217.94.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction 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 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. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

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.