The Allstate Co. (NYSE:ALL) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management grew its holdings in The Allstate Co. (NYSE:ALL) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,587 shares of the insurance provider’s stock after buying an additional 374 shares during the quarter. Ritholtz Wealth Management’s holdings in Allstate were worth $1,902,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ALL. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Allstate in the third quarter valued at about $25,000. First Capital Advisors Group LLC. acquired a new stake in Allstate in the 2nd quarter worth about $29,000. Cowa LLC purchased a new stake in Allstate during the 1st quarter worth approximately $30,000. RVW Wealth LLC acquired a new position in shares of Allstate during the third quarter valued at approximately $33,000. Finally, Chilton Capital Management LLC acquired a new stake in shares of Allstate in the first quarter worth approximately $33,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Trading Up 1.9 %

ALL traded up $3.18 on Thursday, hitting $173.02. The company had a trading volume of 1,735,418 shares, compared to its average volume of 1,772,416. The company’s fifty day moving average price is $159.48 and its 200 day moving average price is $140.38. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The Allstate Co. has a 1 year low of $100.57 and a 1 year high of $173.47. The firm has a market cap of $45.52 billion, a P/E ratio of -139.53, a PEG ratio of 0.45 and a beta of 0.51.

Allstate (NYSE:ALL) last posted its quarterly earnings data 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. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The firm had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $12.69 billion. During the same quarter in the previous year, the business earned ($1.36) EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts expect that The Allstate Co. will post 13.11 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.13%. This is a boost from Allstate’s previous quarterly dividend of $0.89. Allstate’s payout ratio is -296.77%.

Insider Buying and Selling

In related news, CAO John C. Pintozzi sold 4,000 shares of Allstate 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 transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other 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 completion of the sale, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALL. Jefferies Financial Group upgraded Allstate from a “hold” rating to a “buy” rating and raised their price objective for the company from $130.00 to $180.00 in a report on Tuesday, January 9th. Raymond James raised their price target on shares of Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research note on Monday, January 22nd. The Goldman Sachs Group upped their price objective on shares of Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research note on Monday. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $171.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Finally, Wells Fargo & Company upped their price target on Allstate from $112.00 to $145.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $165.56.

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.