WP Advisors LLC Takes Position in The Allstate Co. (NYSE:ALL)

WP Advisors LLC bought a new stake in shares of The Allstate Co. (NYSE:ALL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,554 shares of the insurance provider’s stock, valued at approximately $218,000.

Several other hedge funds have also modified their holdings of ALL. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Allstate in the 3rd quarter worth about $25,000. First Capital Advisors Group LLC. purchased a new stake in Allstate in the 2nd quarter worth about $29,000. Cowa LLC purchased a new stake in Allstate in the 1st quarter worth about $30,000. RVW Wealth LLC purchased a new stake in Allstate in the 3rd quarter worth about $33,000. Finally, Chilton Capital Management LLC purchased a new stake in Allstate in the 1st quarter worth about $33,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ALL. HSBC raised Allstate from a “hold” rating to a “buy” rating and raised their price target for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. Jefferies Financial Group raised 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 note on Tuesday, January 9th. Piper Sandler raised their price target on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. BMO Capital Markets raised their price target on Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a research note on Friday, January 19th. Finally, The Goldman Sachs Group raised their price target on Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.71.

Insider Activity at Allstate

In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction on Tuesday, February 27th. The stock was 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 approximately $1,712,069.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction on Tuesday, February 27th. The stock was 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 approximately $1,712,069.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the transaction, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Allstate Price Performance

Shares of NYSE:ALL traded up $3.85 during trading on Friday, hitting $172.96. 2,368,220 shares of the stock were exchanged, compared to its average volume of 1,362,966. The Allstate Co. has a 1-year low of $100.57 and a 1-year high of $174.57. The company’s fifty day simple moving average is $163.84 and its 200-day simple moving average is $147.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37.

Allstate (NYSE:ALL) last announced its quarterly 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. The business had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. Allstate’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.36) EPS. Analysts forecast that The Allstate Co. will post 13.49 earnings per share for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.92 dividend. This is a positive change from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. This represents a $3.68 annualized dividend and a yield of 2.13%. Allstate’s payout ratio is currently -296.77%.

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.