The Allstate Co. (NYSE:ALL) Shares Bought by Xponance Inc.

Xponance Inc. boosted its stake in shares of The Allstate Co. (NYSE:ALL) by 36.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,962 shares of the insurance provider’s stock after acquiring an additional 14,604 shares during the quarter. Xponance Inc.’s holdings in Allstate were worth $10,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Apella Capital LLC grew its position in shares of Allstate by 1.9% in the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock valued at $623,000 after purchasing an additional 60 shares during the period. Avior Wealth Management LLC boosted its holdings in Allstate by 4.9% in the third quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider’s stock valued at $252,000 after acquiring an additional 62 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in Allstate by 2.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock valued at $571,000 after acquiring an additional 62 shares during the last quarter. Mather Group LLC. boosted its holdings in Allstate by 1.7% in the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock valued at $697,000 after acquiring an additional 62 shares during the last quarter. Finally, Angeles Wealth Management LLC boosted its holdings in Allstate by 4.6% in the fourth 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 institutional investors and hedge funds.

Allstate Stock Down 2.4 %

Shares of NYSE ALL opened at $205.02 on Wednesday. The Allstate Co. has a 1 year low of $156.66 and a 1 year high of $211.15. The firm has a market cap of $54.33 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.01 and a beta of 0.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The stock’s 50-day simple moving average is $192.60 and its 200-day simple moving average is $192.74.

Allstate (NYSE:ALL) last announced its 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%. As a group, equities 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 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 is a positive change from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.95%. The ex-dividend date is Monday, March 10th. Allstate’s payout ratio is currently 23.54%.

Allstate announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits 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 shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wells Fargo & Company lifted their target price on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Barclays reduced their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted 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. Finally, Piper Sandler boosted their price objective on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. One equities research 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 company. According to data from MarketBeat, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Insider Activity at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was 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 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 Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by corporate insiders.

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.