SPC Financial Inc. Decreases Stock Holdings in The Allstate Co. (NYSE:ALL)

SPC Financial Inc. trimmed its position in shares of The Allstate Co. (NYSE:ALL) by 7.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,443 shares of the insurance provider’s stock after selling 121 shares during the quarter. SPC Financial Inc.’s holdings in Allstate were worth $278,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ALL. Farther Finance Advisors LLC lifted its position in shares of Allstate by 7.7% during the third quarter. Farther Finance Advisors LLC now owns 1,972 shares of the insurance provider’s stock valued at $374,000 after buying an additional 141 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Allstate by 18.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 51,032 shares of the insurance provider’s stock valued at $9,678,000 after purchasing an additional 7,940 shares during the last quarter. National Pension Service raised its position in shares of Allstate by 28.8% in the 3rd quarter. National Pension Service now owns 417,240 shares of the insurance provider’s stock valued at $79,130,000 after purchasing an additional 93,357 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of Allstate by 2.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 105,343 shares of the insurance provider’s stock valued at $19,978,000 after purchasing an additional 2,466 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Allstate in the 3rd quarter valued at approximately $29,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

Allstate stock opened at $199.65 on Thursday. The company’s fifty day moving average price is $190.58 and its 200 day moving average price is $191.47. The Allstate Co. has a 1 year low of $154.76 and a 1 year high of $209.88. The stock has a market capitalization of $52.91 billion, a P/E ratio of 11.75, 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 quick ratio of 0.40 and a current ratio of 0.36.

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

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.00 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a yield of 2.00%. This is a boost from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio (DPR) is currently 23.54%.

Allstate declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently commented on ALL. Jefferies Financial Group increased their price objective 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. Morgan Stanley increased their price objective on shares of Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Piper Sandler increased their price target on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Barclays cut their price target on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. Finally, Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Insider Activity at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.