FLC Capital Advisors Takes Position in The Allstate Co. (NYSE:ALL)

FLC Capital Advisors bought a new stake in The Allstate Co. (NYSE:ALL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,626 shares of the insurance provider’s stock, valued at approximately $228,000.

Several other hedge funds also recently modified their holdings of ALL. Assenagon Asset Management S.A. raised its holdings in shares of Allstate by 484.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 332,104 shares of the insurance provider’s stock valued at $46,488,000 after purchasing an additional 275,319 shares in the last quarter. QRG Capital Management Inc. bought a new position in Allstate in the 3rd quarter worth $2,389,000. Markel Group Inc. raised its holdings in Allstate by 10.1% in the 3rd quarter. Markel Group Inc. now owns 141,550 shares of the insurance provider’s stock worth $15,770,000 after acquiring an additional 13,000 shares during the period. Kestra Private Wealth Services LLC raised its holdings in Allstate by 42.7% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 12,795 shares of the insurance provider’s stock worth $1,425,000 after acquiring an additional 3,828 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Allstate by 9.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,261,274 shares of the insurance provider’s stock worth $140,519,000 after acquiring an additional 104,758 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE:ALL traded up $3.17 during trading hours on Thursday, hitting $173.01. The stock had a trading volume of 1,603,149 shares, compared to its average volume of 1,770,253. The Allstate Co. has a one year low of $100.57 and a one year high of $173.47. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $159.13 and its 200-day moving average is $140.17.

Allstate (NYSE:ALL) last issued its earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, beating the consensus estimate of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm had revenue of $14.83 billion during the quarter, compared to the consensus estimate of $12.69 billion. During the same quarter in the prior year, the firm earned ($1.36) earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts forecast that The Allstate Co. will post 13.11 earnings per share for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio is -296.77%.

Insider Activity

In other news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the completion of the transaction, the chief accounting officer now owns 10,736 shares in the company, valued at $1,712,069.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent analyst reports. HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and lifted their target price for the stock from $158.00 to $190.00 in a report on Thursday. UBS Group raised their price target on shares of Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. The Goldman Sachs Group raised their price target on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday. Jefferies Financial Group upgraded shares of Allstate from a “hold” rating to a “buy” rating and raised their price target for the stock from $130.00 to $180.00 in a research report on Tuesday, January 9th. Finally, Morgan Stanley upgraded shares of Allstate from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $117.00 to $171.00 in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus price target of $165.56.

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.