Capital Wealth Planning LLC Raises Holdings in The Allstate Co. (NYSE:ALL)

Capital Wealth Planning LLC grew its position in The Allstate Co. (NYSE:ALL) by 60.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,757 shares of the insurance provider’s stock after purchasing an additional 665 shares during the quarter. Capital Wealth Planning LLC’s holdings in Allstate were worth $339,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ALL. Chicago Partners Investment Group LLC boosted its position in Allstate by 1.3% during the third quarter. Chicago Partners Investment Group LLC now owns 4,630 shares of the insurance provider’s stock worth $893,000 after purchasing an additional 59 shares in the last quarter. Carmichael Hill & Associates Inc. boosted its position in Allstate by 15.0% during the third quarter. Carmichael Hill & Associates Inc. now owns 460 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 60 shares in the last quarter. Apella Capital LLC boosted its position in Allstate by 1.9% during the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock worth $623,000 after purchasing an additional 60 shares in the last quarter. Avior Wealth Management LLC boosted its position in Allstate by 4.9% during the third quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider’s stock worth $252,000 after purchasing an additional 62 shares in the last quarter. Finally, Perigon Wealth Management LLC boosted its position in Allstate by 2.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock worth $571,000 after purchasing an additional 62 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALL has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price target on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. UBS Group increased their price target on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Piper Sandler increased their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods raised their target price on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley raised their target price on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $217.94.

Insider Transactions at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the completion of the transaction, the chief financial officer now directly owns 18,115 shares in the company, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Allstate Price Performance

ALL stock opened at $199.20 on Friday. The business has a fifty day moving average of $190.26 and a two-hundred day moving average of $191.04. 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 stock has a market cap of $52.79 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The Allstate Co. has a 52-week low of $153.87 and a 52-week high of $209.88.

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

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.00 per share. This is a boost from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 2.01%. Allstate’s dividend payout ratio (DPR) is 21.66%.

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

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.