SPC Financial Inc. Sells 121 Shares of The Allstate Co. (NYSE:ALL)

SPC Financial Inc. trimmed its holdings in shares of The Allstate Co. (NYSE:ALL) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 quarter.

Several other large investors also recently added to or reduced their stakes in ALL. Atria Investments Inc lifted its holdings in Allstate by 4.3% during the fourth quarter. Atria Investments Inc now owns 18,357 shares of the insurance provider’s stock valued at $3,539,000 after purchasing an additional 762 shares in the last quarter. Assetmark Inc. lifted its holdings in Allstate by 3.2% during the fourth quarter. Assetmark Inc. now owns 46,710 shares of the insurance provider’s stock valued at $9,005,000 after purchasing an additional 1,461 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its holdings in Allstate by 1.2% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 66,678 shares of the insurance provider’s stock valued at $12,855,000 after purchasing an additional 802 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Allstate by 32.8% during the fourth quarter. Victory Capital Management Inc. now owns 370,249 shares of the insurance provider’s stock valued at $71,380,000 after purchasing an additional 91,496 shares in the last quarter. Finally, Keybank National Association OH lifted its holdings in Allstate by 1.7% during the fourth quarter. Keybank National Association OH now owns 344,875 shares of the insurance provider’s stock valued at $66,489,000 after purchasing an additional 5,786 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were 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. This represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday. Barclays lowered their target price 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. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Finally, Piper Sandler boosted their target price on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Allstate Trading Up 0.3 %

NYSE ALL opened at $199.65 on Thursday. The company’s 50-day moving average price is $190.58 and its 200-day moving average price is $191.47. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The stock has a market cap of $52.91 billion, a PE ratio of 11.75, a PEG ratio of 1.01 and a beta of 0.52. The Allstate Co. has a 12 month low of $154.76 and a 12 month high of $209.88.

Allstate (NYSE:ALL) last posted 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 net margin of 7.28% and a return on equity of 28.20%. Equities research analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate announced that its board has authorized a share buyback program 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 programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently disclosed 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 is a positive change from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a yield of 2.00%. Allstate’s dividend payout ratio is 23.54%.

Allstate 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.