2,263 Shares in The Allstate Co. (NYSE:ALL) Acquired by Callan Family Office LLC

Callan Family Office LLC acquired a new stake in shares of The Allstate Co. (NYSE:ALL) in the fourth quarter, Holdings Channel reports. The firm acquired 2,263 shares of the insurance provider’s stock, valued at approximately $436,000.

Several other hedge funds have also added to or reduced their stakes in ALL. State Street Corp boosted its stake in Allstate by 1.1% in the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after purchasing an additional 126,922 shares in the last quarter. Geode Capital Management LLC raised its holdings in Allstate by 1.2% in the third quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock worth $1,178,164,000 after buying an additional 74,537 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Allstate by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,834,172 shares of the insurance provider’s stock worth $353,610,000 after buying an additional 19,463 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Allstate by 15,062.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock valued at $215,757,000 after buying an additional 1,111,748 shares during the last quarter. Finally, FMR LLC increased its position in shares of Allstate by 11.8% during the third quarter. FMR LLC now owns 933,352 shares of the insurance provider’s stock valued at $177,010,000 after acquiring an additional 98,179 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Argus raised Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods upped their price target on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Wells Fargo & Company lifted their price objective on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Piper Sandler raised their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group lifted their price target on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Price Performance

Shares of Allstate stock opened at $200.87 on Monday. The stock has a market cap 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. The stock’s fifty day moving average is $190.76 and its 200 day moving average is $191.82. The Allstate Co. has a one year low of $155.59 and a one year high of $209.88.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 EPS 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%. Sell-side analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 1.99%. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is currently 23.54%.

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

Insiders Place Their Bets

In related news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction on 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 transaction, the chief financial officer now owns 18,115 shares in the company, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.