Ipsen Advisor Group LLC Makes New $589,000 Investment in The Allstate Co. (NYSE:ALL)

Ipsen Advisor Group LLC purchased a new stake in shares of The Allstate Co. (NYSE:ALL) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,057 shares of the insurance provider’s stock, valued at approximately $589,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALL. Vanguard Group Inc. increased its position in shares of Allstate by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider’s stock worth $6,291,783,000 after purchasing an additional 389,426 shares during the last quarter. State Street Corp lifted its holdings in shares of Allstate by 1.1% in the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after acquiring an additional 126,922 shares during the last quarter. Geode Capital Management LLC raised its position in Allstate by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock worth $1,178,164,000 after purchasing an additional 74,537 shares during the period. GQG Partners LLC lifted its stake in Allstate by 64.1% in the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock worth $832,181,000 after purchasing an additional 1,685,694 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Allstate by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,834,172 shares of the insurance provider’s stock valued at $353,610,000 after buying an additional 19,463 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Piper Sandler raised their target price on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods increased their price target 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 raised shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.94.

Allstate Stock Performance

Shares of ALL stock opened at $208.14 on Wednesday. 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 company’s fifty day moving average price is $194.67 and its 200-day moving average price is $193.43. The stock has a market cap of $55.16 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91.

Allstate (NYSE:ALL) last announced its quarterly earnings data 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%. On average, equities analysts expect that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio (DPR) is 23.54%.

Allstate announced that its board has approved a share buyback plan on Wednesday, February 26th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 18,115 shares in the company, valued at $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.