The Allstate Co. (NYSE:ALL) Shares Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. raised its position in The Allstate Co. (NYSE:ALL) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,380 shares of the insurance provider’s stock after buying an additional 200 shares during the period. Hillsdale Investment Management Inc.’s holdings in Allstate were worth $844,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Strategic Financial Concepts LLC boosted its stake in shares of Allstate by 15,062.3% in 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 during the last quarter. National Pension Service grew its holdings in shares of Allstate by 69.7% during the fourth quarter. National Pension Service now owns 708,098 shares of the insurance provider’s stock worth $136,514,000 after buying an additional 290,858 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Allstate by 22,981.9% in the fourth quarter. Proficio Capital Partners LLC now owns 269,135 shares of the insurance provider’s stock valued at $51,887,000 after buying an additional 267,969 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Allstate by 291.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider’s stock worth $67,528,000 after acquiring an additional 265,213 shares during the last quarter. Finally, Prana Capital Management LP grew its stake in Allstate by 539.9% during the 3rd quarter. Prana Capital Management LP now owns 273,655 shares of the insurance provider’s stock valued at $51,899,000 after acquiring an additional 230,893 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.80% of the company’s stock.

Allstate Price Performance

ALL opened at $206.60 on Monday. The firm has a market cap of $54.76 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.01 and a beta of 0.47. 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 stock’s 50-day moving average price is $193.75 and its 200 day moving average price is $193.12. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $212.91.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. As a group, sell-side analysts expect that The Allstate Co. will post 18.74 earnings per share for the current year.

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

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.94%. This is a positive change from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is currently 23.54%.

Analysts Set New Price Targets

ALL has been the topic of several recent research reports. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Piper Sandler raised their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Wells Fargo & Company raised their price objective on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus price target of $217.94.

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.