Sage Mountain Advisors LLC Has $428,000 Stock Holdings in The Allstate Co. (NYSE:ALL)

Sage Mountain Advisors LLC lifted its holdings in shares of The Allstate Co. (NYSE:ALL) by 33.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,221 shares of the insurance provider’s stock after purchasing an additional 562 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Allstate were worth $428,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. United Bank bought a new stake in shares of Allstate during the 3rd quarter worth about $209,000. Ashton Thomas Securities LLC bought a new stake in Allstate during the third quarter worth approximately $228,000. Apollon Wealth Management LLC grew its holdings in Allstate by 2.7% during the third quarter. Apollon Wealth Management LLC now owns 5,901 shares of the insurance provider’s stock valued at $1,119,000 after purchasing an additional 157 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Allstate in the third quarter valued at approximately $284,000. Finally, Harbour Investments Inc. lifted its stake in shares of Allstate by 5.4% in the third quarter. Harbour Investments Inc. now owns 2,503 shares of the insurance provider’s stock worth $475,000 after buying an additional 128 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

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 shares were sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the sale, the chief financial officer now owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Allstate Stock Up 1.8 %

Shares of NYSE:ALL opened at $202.25 on Wednesday. The company has a market capitalization of $53.60 billion, a PE ratio of 11.90, 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 company’s fifty day moving average is $191.08 and its 200-day moving average is $192.10. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $209.88.

Allstate (NYSE:ALL) last issued its quarterly earnings data 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 net margin of 7.28% and a return on equity of 28.20%. Equities research analysts predict that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a yield of 1.98%. This is a positive change from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is currently 23.54%.

Allstate announced that its board has approved a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.