Whittier Trust Co. of Nevada Inc. Has $1.26 Million Stock Position in The Allstate Co. (NYSE:ALL)

Whittier Trust Co. of Nevada Inc. lifted its holdings in The Allstate Co. (NYSE:ALL) by 28.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,556 shares of the insurance provider’s stock after acquiring an additional 1,469 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Allstate were worth $1,264,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Holderness Investments Co. bought a new position in Allstate in the 4th quarter worth approximately $243,000. Blueshift Asset Management LLC raised its position in Allstate by 103.7% in the 4th quarter. Blueshift Asset Management LLC now owns 6,688 shares of the insurance provider’s stock worth $1,289,000 after purchasing an additional 3,405 shares during the last quarter. Teacher Retirement System of Texas raised its position in Allstate by 116.2% in the 4th quarter. Teacher Retirement System of Texas now owns 351,206 shares of the insurance provider’s stock worth $67,709,000 after purchasing an additional 188,753 shares during the last quarter. VSM Wealth Advisory LLC bought a new position in Allstate in the 4th quarter worth approximately $25,000. Finally, Xponance Inc. raised its position in Allstate by 36.2% in the 4th quarter. Xponance Inc. now owns 54,962 shares of the insurance provider’s stock worth $10,596,000 after purchasing an additional 14,604 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Allstate

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

Allstate Price Performance

Shares of NYSE ALL opened at $206.60 on Friday. The firm has a market cap of $54.76 billion, a PE ratio of 12.16, a PEG ratio of 1.01 and a beta of 0.47. 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 Allstate Co. has a 1-year low of $156.66 and a 1-year high of $212.91. The company has a fifty day moving average price of $193.75 and a 200 day moving average price of $193.09.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share 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%. Research analysts predict that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

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

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.94%. This is an increase from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s dividend payout ratio is currently 23.54%.

Analyst Upgrades and Downgrades

ALL has been the subject of several recent research reports. Wells Fargo & Company upped their target price 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. Piper Sandler upped their target price on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Barclays dropped their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Keefe, Bruyette & Woods upped their target price on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Finally, Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

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.