United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Acquires Shares of 4,500 The Allstate Co. (NYSE:ALL)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in The Allstate Co. (NYSE:ALL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,500 shares of the insurance provider’s stock, valued at approximately $868,000.

Several other institutional investors have also bought and sold shares of the stock. United Bank acquired a new stake in shares of Allstate during the 3rd quarter worth about $209,000. Eagle Asset Management Inc. raised its stake in shares of Allstate by 38.0% in the third quarter. Eagle Asset Management Inc. now owns 10,497 shares of the insurance provider’s stock valued at $2,067,000 after acquiring an additional 2,888 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in shares of Allstate in the 3rd quarter worth approximately $240,000. Great Valley Advisor Group Inc. grew its position in Allstate by 4.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 6,396 shares of the insurance provider’s stock worth $1,212,000 after acquiring an additional 300 shares during the last quarter. Finally, Cerity Partners LLC raised its position in Allstate by 29.9% in the 3rd quarter. Cerity Partners LLC now owns 40,549 shares of the insurance provider’s stock valued at $7,694,000 after purchasing an additional 9,336 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ALL shares. Piper Sandler lifted their price target on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods raised their target price on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Wells Fargo & Company boosted their price target on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Finally, 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 research note on Monday, January 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Allstate Trading Up 0.4 %

Shares of Allstate stock opened at $208.14 on Wednesday. The Allstate Co. has a 1 year low of $156.66 and a 1 year high of $212.91. 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 firm has a market capitalization of $55.16 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The firm’s 50 day moving average is $194.67 and its 200 day moving average is $193.43.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping 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%. Equities research analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current fiscal 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 issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.92%. Allstate’s payout ratio is presently 23.54%.

Allstate announced that its board has initiated a stock buyback program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

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.