Alteri Wealth LLC Buys New Position in The Allstate Co. (NYSE:ALL)

Alteri Wealth LLC purchased a new position in shares of The Allstate Co. (NYSE:ALL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,552 shares of the insurance provider’s stock, valued at approximately $492,000.

Other hedge funds have also made changes to their positions in the company. VSM Wealth Advisory LLC acquired a new position in shares of Allstate during the fourth quarter worth about $25,000. Twin Tree Management LP purchased a new stake in shares of Allstate in the 4th quarter valued at approximately $27,000. Vision Financial Markets LLC acquired a new stake in shares of Allstate in the 4th quarter valued at $29,000. Hopwood Financial Services Inc. purchased a new stake in shares of Allstate during the 4th quarter worth $29,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Allstate during the fourth quarter worth $29,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Transactions at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm’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 directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Allstate Stock Performance

NYSE ALL opened at $199.15 on Friday. The business’s 50-day moving average price is $198.49 and its 200 day moving average price is $194.87. 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 firm has a market cap of $52.80 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.01 and a beta of 0.32. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $212.91.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $16.41 billion. During the same quarter last year, the business posted $5.13 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts expect that The Allstate Co. will post 18.74 earnings per share for the current year.

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

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a yield of 2.01%. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is presently 27.32%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Evercore ISI lifted their price target on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price target on shares of Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their price objective on shares of Allstate from $240.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Barclays dropped their target price on shares of Allstate from $183.00 to $172.00 and set an “underweight” rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and an average target price of $221.60.

Allstate 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.