Hickory Point Bank & Trust Makes New Investment in The Allstate Co. (NYSE:ALL)

Hickory Point Bank & Trust bought a new position in shares of The Allstate Co. (NYSE:ALL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,709 shares of the insurance provider’s stock, valued at approximately $329,000.

Other large investors also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new stake in shares of Allstate during the third quarter worth $26,000. Catalyst Capital Advisors LLC bought a new stake in shares of Allstate during the third quarter worth $29,000. Peoples Bank KS bought a new stake in shares of Allstate during the fourth quarter worth $49,000. Stonebridge Financial Group LLC bought a new stake in shares of Allstate during the fourth quarter worth $53,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Allstate during the fourth quarter worth $57,000. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 2.1 %

NYSE ALL opened at $199.20 on Friday. The firm has a market cap of $52.79 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.01 and a beta of 0.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The stock’s 50-day moving average is $190.26 and its 200-day moving average is $191.04. The Allstate Co. has a one year low of $153.87 and a one year high of $209.88.

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

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

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date 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 currently 21.66%.

Insider Activity at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction that occurred on 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 sale, the chief financial officer now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays decreased their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company raised their price target on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Morgan Stanley raised their price target on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their price target on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

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.