United Community Bank Sells 515 Shares of The Allstate Co. (NYSE:ALL)

United Community Bank decreased its position in shares of The Allstate Co. (NYSE:ALL) by 67.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 252 shares of the insurance provider’s stock after selling 515 shares during the period. United Community Bank’s holdings in Allstate were worth $49,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. FSA Wealth Management LLC bought a new stake in shares of Allstate during the third quarter valued at approximately $26,000. Vision Financial Markets LLC bought a new stake in shares of Allstate during the fourth quarter valued at approximately $29,000. Peoples Bank KS bought a new stake in shares of Allstate during the fourth quarter valued at approximately $49,000. Stonebridge Financial Group LLC bought a new stake in shares of Allstate during the fourth quarter valued at approximately $53,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Allstate during the fourth quarter valued at approximately $57,000. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Up 1.7 %

NYSE ALL opened at $200.87 on Monday. 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 company has a fifty day moving average of $190.76 and a two-hundred day moving average of $191.82. The firm has a market capitalization of $53.24 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 52 week low of $155.59 and a 52 week high of $209.88.

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

Allstate Increases Dividend

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

Allstate announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their price objective 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. The Goldman Sachs Group lifted their price objective on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Barclays reduced their price target on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. Finally, Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Insider Transactions at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the business’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 value 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. The trade was a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Allstate Company 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.