Envestnet Portfolio Solutions Inc. Purchases 2,566 Shares of The Allstate Co. (NYSE:ALL)

Envestnet Portfolio Solutions Inc. boosted its position in The Allstate Co. (NYSE:ALL) by 5.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 52,614 shares of the insurance provider’s stock after purchasing an additional 2,566 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Allstate were worth $10,143,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new stake in Allstate in the 3rd quarter worth about $26,000. Vision Financial Markets LLC purchased a new stake in shares of Allstate during the 4th quarter valued at approximately $29,000. Hopwood Financial Services Inc. purchased a new stake in shares of Allstate during the 4th quarter valued at approximately $29,000. Peoples Bank KS purchased a new stake in shares of Allstate during the 4th quarter valued at approximately $49,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Allstate during the 4th quarter valued at approximately $53,000. 76.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the sale, the chief financial officer now owns 18,115 shares of the company’s stock, valued at $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by insiders.

Allstate Price Performance

Shares of NYSE ALL opened at $207.68 on Monday. The Allstate Co. has a 1 year low of $156.66 and a 1 year high of $209.88. 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 company’s 50-day moving average is $191.72 and its 200 day moving average is $192.47. The stock has a market capitalization of $55.04 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. On average, sell-side analysts expect that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate announced that its board has approved a stock repurchase program on Wednesday, February 26th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the insurance provider to buy up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is 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 dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 1.93%. This is a positive change from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is presently 23.54%.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent analyst reports. 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 research note 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. 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. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Finally, Wells Fargo & Company increased their price target 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $217.94.

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.