The Allstate Co. (NYSE:ALL) Holdings Decreased by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC decreased its holdings in shares of The Allstate Co. (NYSE:ALL) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,324 shares of the insurance provider’s stock after selling 283 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Allstate were worth $1,798,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Oregon Public Employees Retirement Fund grew its holdings in shares of Allstate by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,661 shares of the insurance provider’s stock valued at $4,369,000 after buying an additional 88 shares in the last quarter. National Pension Service grew its holdings in shares of Allstate by 69.7% during the fourth quarter. National Pension Service now owns 708,098 shares of the insurance provider’s stock valued at $136,514,000 after buying an additional 290,858 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Allstate by 8.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 161,809 shares of the insurance provider’s stock valued at $31,195,000 after buying an additional 12,661 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Allstate by 10.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider’s stock valued at $98,065,000 after buying an additional 48,382 shares in the last quarter. Finally, FourThought Financial Partners LLC purchased a new position in shares of Allstate during the fourth quarter valued at $2,485,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 1.1 %

Allstate stock opened at $188.35 on Thursday. The business has a 50 day moving average price of $190.05 and a two-hundred day moving average price of $190.68. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The stock has a market cap of $49.87 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The Allstate Co. has a 12 month low of $153.87 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, beating 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%. As a group, equities analysts forecast 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 will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.12%. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio (DPR) is 21.66%.

Allstate declared that its board has approved a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. The Goldman Sachs Group upped their price target on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Morgan Stanley upped their price target on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods upped their price target on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Piper Sandler upped their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Jefferies Financial Group upped their price target on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Insider Buying and Selling

In related news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 18,115 shares in the company, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

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.