The Allstate Co. (NYSE:ALL) Shares Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC increased its position in shares of The Allstate Co. (NYSE:ALL) by 22,981.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,135 shares of the insurance provider’s stock after acquiring an additional 267,969 shares during the period. Proficio Capital Partners LLC owned about 0.10% of Allstate worth $51,887,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ALL. J.W. Cole Advisors Inc. raised its position in Allstate by 34.1% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 2,330 shares of the insurance provider’s stock valued at $442,000 after purchasing an additional 593 shares in the last quarter. abrdn plc raised its position in Allstate by 10.0% in the 3rd quarter. abrdn plc now owns 107,681 shares of the insurance provider’s stock valued at $20,355,000 after purchasing an additional 9,762 shares in the last quarter. Valmark Advisers Inc. acquired a new stake in Allstate in the 3rd quarter valued at about $244,000. Fidelis Capital Partners LLC acquired a new stake in Allstate in the 3rd quarter valued at about $217,000. Finally, New York State Teachers Retirement System raised its position in Allstate by 14.3% in the 3rd quarter. New York State Teachers Retirement System now owns 263,186 shares of the insurance provider’s stock valued at $49,913,000 after purchasing an additional 32,973 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Up 3.5 %

NYSE:ALL opened at $195.01 on Friday. The stock’s 50 day moving average price is $190.15 and its 200 day moving average price is $190.71. The company has a market capitalization of $51.68 billion, a PE ratio of 11.48, a P/E/G ratio of 1.01 and a beta of 0.52. 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 Allstate Co. has a 52-week low of $153.87 and a 52-week high of $209.88.

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

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.00 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s dividend payout ratio (DPR) is 21.66%.

Allstate announced that its board has approved a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. Piper Sandler increased their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. UBS Group increased their price objective on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Morgan Stanley increased their price objective on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods increased their price objective on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, one has given 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Insider Buying and Selling at Allstate

In other Allstate 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 transaction, the chief financial officer now directly 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 can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

About Allstate

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.