Envestnet Portfolio Solutions Inc. Purchases 2,566 Shares of The Allstate Co. (NYSE:ALL)

Envestnet Portfolio Solutions Inc. lifted its position in The Allstate Co. (NYSE:ALL) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,614 shares of the insurance provider’s stock after buying an additional 2,566 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Allstate were worth $10,143,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new position in shares of Allstate in the third quarter worth approximately $26,000. Vision Financial Markets LLC bought a new position in Allstate during the fourth quarter valued at approximately $29,000. Hopwood Financial Services Inc. bought a new position in Allstate during the fourth quarter valued at approximately $29,000. Peoples Bank KS bought a new position in Allstate during the fourth quarter valued at approximately $49,000. Finally, Stonebridge Financial Group LLC bought a new position in Allstate during the fourth quarter valued at approximately $53,000. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALL. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Piper Sandler upped their target price on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Wells Fargo & Company upped their target price on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Finally, Evercore ISI raised 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, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Allstate currently has an average rating of “Moderate Buy” and an average price target of $217.94.

Insider Transactions at Allstate

In other 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Allstate Price Performance

ALL stock opened at $207.68 on Monday. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $209.88. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $191.72 and a two-hundred day simple moving average of $192.47. The firm has a market capitalization of $55.04 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently announced 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 1.93%. 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. Allstate’s dividend payout ratio (DPR) is 23.54%.

Allstate declared that its board has approved a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.