Purkiss Capital Advisors LLC Buys New Position in The Allstate Co. (NYSE:ALL)

Purkiss Capital Advisors LLC purchased a new position in The Allstate Co. (NYSE:ALL) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,459 shares of the insurance provider’s stock, valued at approximately $281,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of ALL. Duncker Streett & Co. Inc. raised its holdings in shares of Allstate by 6.9% in the 4th quarter. Duncker Streett & Co. Inc. now owns 1,060 shares of the insurance provider’s stock worth $204,000 after purchasing an additional 68 shares in the last quarter. Capital Wealth Planning LLC increased its holdings in shares of Allstate by 60.9% in the fourth quarter. Capital Wealth Planning LLC now owns 1,757 shares of the insurance provider’s stock valued at $339,000 after buying an additional 665 shares in the last quarter. Metis Global Partners LLC lifted its position in shares of Allstate by 4.9% during the 4th quarter. Metis Global Partners LLC now owns 11,734 shares of the insurance provider’s stock valued at $2,262,000 after acquiring an additional 546 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Allstate by 10.8% during the 4th quarter. Fisher Asset Management LLC now owns 3,148 shares of the insurance provider’s stock worth $607,000 after acquiring an additional 306 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in shares of Allstate in the 4th quarter worth $1,436,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 transaction of $7,480,226.06. Following the transaction, the chief financial officer now owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ALL shares. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Barclays reduced their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Jefferies Financial Group raised their target price on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Piper Sandler boosted their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Price Performance

ALL opened at $199.20 on Friday. 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 Allstate Co. has a 1 year low of $153.87 and a 1 year high of $209.88. The stock has a fifty day moving average price of $190.26 and a 200 day moving average price of $191.04. The stock has a market cap of $52.79 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.01 and a beta of 0.52.

Allstate (NYSE:ALL) last announced its quarterly earnings results 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 return on equity of 28.20% and a net margin of 7.28%. Analysts forecast that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate declared that its board has approved a share 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 stock is undervalued.

Allstate Increases Dividend

The firm 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 $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Monday, March 10th. This is a positive change from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is presently 21.66%.

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.