Parallel Advisors LLC Grows Position in The Allstate Co. (NYSE:ALL)

Parallel Advisors LLC lifted its position in shares of The Allstate Co. (NYSE:ALL) by 3.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 8,017 shares of the insurance provider’s stock after purchasing an additional 235 shares during the quarter. Parallel Advisors LLC’s holdings in Allstate were worth $1,546,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FSA Wealth Management LLC purchased a new stake in Allstate during the third quarter worth approximately $26,000. Twin Tree Management LP purchased a new stake in Allstate during the 4th quarter worth $27,000. Vision Financial Markets LLC acquired a new stake in Allstate in the 4th quarter valued at $29,000. Hopwood Financial Services Inc. purchased a new position in Allstate in the fourth quarter valued at about $29,000. Finally, Peoples Bank KS acquired a new position in shares of Allstate during the fourth quarter worth about $49,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the transaction, the chief financial officer now owns 18,115 shares in the company, valued at approximately $3,378,990.95. This 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. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ALL has been the subject of a number of recent research reports. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Piper Sandler increased their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Wells Fargo & Company upped their target price on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Finally, Barclays dropped their price target on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Stock Performance

Shares of ALL opened at $205.02 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $211.15. The business’s fifty day moving average price is $192.60 and its 200 day moving average price is $192.74. The stock has a market capitalization of $54.33 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Equities research analysts forecast that The Allstate Co. will post 18.74 EPS for the current year.

Allstate declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $1.00 per share. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s dividend payout ratio is presently 23.54%.

Allstate Company 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.