CreativeOne Wealth LLC Acquires 1,120 Shares of The Allstate Co. (NYSE:ALL)

CreativeOne Wealth LLC increased its holdings in The Allstate Co. (NYSE:ALL) by 17.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,406 shares of the insurance provider’s stock after acquiring an additional 1,120 shares during the quarter. CreativeOne Wealth LLC’s holdings in Allstate were worth $1,428,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ALL. Norges Bank bought a new stake in shares of Allstate in the 4th quarter valued at about $344,354,000. GQG Partners LLC lifted its position in Allstate by 64.1% in the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock valued at $832,181,000 after purchasing an additional 1,685,694 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake 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 purchasing an additional 1,111,748 shares during the period. Menora Mivtachim Holdings LTD. bought a new position in shares of Allstate in the fourth quarter worth approximately $143,165,000. Finally, Vanguard Group Inc. increased its stake in shares of Allstate by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider’s stock worth $6,291,783,000 after buying an additional 389,426 shares during the period. 76.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. Argus raised Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. StockNews.com upgraded Allstate from a “hold” rating to a “buy” rating in a research report on Tuesday, April 8th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Allstate from $240.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average target price of $219.27.

Allstate Trading Down 0.1 %

Allstate stock opened at $194.42 on Thursday. The Allstate Co. has a one year low of $156.66 and a one year high of $212.91. The business’s fifty day moving average is $197.01 and its 200 day moving average is $194.28. 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 stock has a market capitalization of $51.53 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.01 and a beta of 0.36.

Allstate (NYSE:ALL) last announced 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%. On average, sell-side analysts predict 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 was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was 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 2.06%. Allstate’s payout ratio is currently 23.54%.

Allstate declared that its Board of Directors has approved a share buyback program on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the completion of the sale, the chief financial officer now owns 18,115 shares in the company, valued at approximately $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 can be accessed through the SEC website. 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.