Levin Capital Strategies L.P. Sells 125 Shares of The Allstate Co. (NYSE:ALL)

Levin Capital Strategies L.P. reduced its holdings in shares of The Allstate Co. (NYSE:ALL) by 9.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,175 shares of the insurance provider’s stock after selling 125 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Allstate were worth $227,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Duncker Streett & Co. Inc. grew its stake in shares of Allstate by 6.9% during the 4th quarter. Duncker Streett & Co. Inc. now owns 1,060 shares of the insurance provider’s stock worth $204,000 after acquiring an additional 68 shares in the last quarter. Capital Wealth Planning LLC boosted its holdings in shares of Allstate by 60.9% in the 4th 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 during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Allstate by 4.9% in the 4th quarter. Metis Global Partners LLC now owns 11,734 shares of the insurance provider’s stock valued at $2,262,000 after buying an additional 546 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Allstate by 10.8% in the 4th quarter. Fisher Asset Management LLC now owns 3,148 shares of the insurance provider’s stock valued at $607,000 after buying an additional 306 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of Allstate in the 4th quarter valued at approximately $1,436,000. 76.47% of the stock is owned by institutional investors.

Allstate Stock Up 2.1 %

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

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share 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%. On average, equities analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate declared that its Board of Directors has approved a share buyback program on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Allstate Increases Dividend

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

Insiders Place Their Bets

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the 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 transaction, the chief financial officer now owns 18,115 shares in the company, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays cut their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Morgan Stanley increased their price objective on Allstate from $220.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. UBS Group increased their price objective on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Piper Sandler increased their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Jefferies Financial Group increased their price objective on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

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.