Intact Investment Management Inc. Cuts Stock Position in The Allstate Co. (NYSE:ALL)

Intact Investment Management Inc. reduced its holdings in The Allstate Co. (NYSE:ALL) by 12.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,600 shares of the insurance provider’s stock after selling 800 shares during the period. Intact Investment Management Inc.’s holdings in Allstate were worth $784,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ALL. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Allstate during the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Allstate during the 4th quarter valued at about $36,000. Venturi Wealth Management LLC boosted its position in shares of Allstate by 152.7% during the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after buying an additional 168 shares during the period. Bruce G. Allen Investments LLC bought a new position in shares of Allstate during the fourth quarter valued at approximately $43,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Allstate in the fourth quarter worth approximately $53,000. 76.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the sale, the chief accounting officer now owns 10,736 shares in the company, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ALL shares. Raymond James increased their target price on Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research note on Monday, January 22nd. Piper Sandler raised their price target on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. The Goldman Sachs Group boosted their price objective on shares of Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, TheStreet raised Allstate from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.71.

Allstate Price Performance

ALL traded down $2.27 during trading on Friday, hitting $170.07. The stock had a trading volume of 1,279,038 shares, compared to its average volume of 1,336,406. The stock has a 50 day simple moving average of $165.09 and a two-hundred day simple moving average of $149.38. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $176.93.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $1.95. The company 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%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.36) EPS. As a group, research analysts forecast that The Allstate Co. will post 13.44 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a dividend of $0.92 per share. 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 dividend on an annualized basis and a yield of 2.16%. Allstate’s dividend payout ratio is presently -296.77%.

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.