Argentarii LLC Takes Position in The Allstate Co. (NYSE:ALL)

Argentarii LLC acquired a new stake in shares of The Allstate Co. (NYSE:ALL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,656 shares of the insurance provider’s stock, valued at approximately $898,000.

Several other large investors also recently made changes to their positions in ALL. FSA Wealth Management LLC purchased a new stake in Allstate during the third quarter valued at about $26,000. Vision Financial Markets LLC purchased a new stake in Allstate during the fourth quarter valued at about $29,000. Peoples Bank KS purchased a new stake in Allstate during the fourth quarter valued at about $49,000. Stonebridge Financial Group LLC purchased a new stake in Allstate during the fourth quarter valued at about $53,000. Finally, Golden State Wealth Management LLC purchased a new stake in Allstate during the fourth quarter valued at about $57,000. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 18,115 shares in the company, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Allstate Trading Up 1.7 %

NYSE:ALL opened at $200.87 on Friday. The stock’s 50 day moving average price is $190.76 and its 200 day moving average price is $191.73. The Allstate Co. has a 52 week low of $155.59 and a 52 week high of $209.88. The company has a market capitalization of $53.24 billion, a P/E ratio of 11.82, a P/E/G 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.

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

Allstate declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio (DPR) is 23.54%.

Analysts Set New Price Targets

A number of research firms have commented on ALL. Barclays reduced their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company upped their price objective on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. 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 research report on Tuesday, November 26th. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group increased their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.