First American Trust FSB Cuts Position in The Allstate Co. (NYSE:ALL)

First American Trust FSB decreased its position in shares of The Allstate Co. (NYSE:ALL) by 33.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,268 shares of the insurance provider’s stock after selling 650 shares during the period. First American Trust FSB’s holdings in Allstate were worth $244,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. GQG Partners LLC increased its position in shares of Allstate by 64.1% during the 4th 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 raised 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 worth $215,757,000 after acquiring an additional 1,111,748 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Allstate by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider’s stock valued at $6,291,783,000 after purchasing an additional 389,426 shares in the last quarter. National Pension Service boosted its stake in shares of Allstate by 69.7% in the 4th quarter. National Pension Service now owns 708,098 shares of the insurance provider’s stock valued at $136,514,000 after purchasing an additional 290,858 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in shares of Allstate by 22,981.9% during the 4th quarter. Proficio Capital Partners LLC now owns 269,135 shares of the insurance provider’s stock valued at $51,887,000 after purchasing an additional 267,969 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

ALL has been the subject of several analyst reports. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Piper Sandler boosted their target price on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Barclays reduced their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. Keefe, Bruyette & Woods boosted their price objective on 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 report on Monday, March 3rd. One 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Allstate Trading Up 0.4 %

ALL opened at $208.14 on Wednesday. The stock has a market cap of $55.16 billion, a PE ratio of 12.25, a PEG ratio of 1.01 and a beta of 0.47. The business has a 50 day moving average of $194.67 and a 200-day moving average of $193.43. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 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%. 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 announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.00 per share. This is an increase from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.92%. Allstate’s dividend payout ratio (DPR) is currently 23.54%.

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

Insider Transactions at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

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.