Sei Investments Co. Cuts Holdings in The Allstate Co. (NYSE:ALL)

Sei Investments Co. cut its holdings in The Allstate Co. (NYSE:ALL) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,174 shares of the insurance provider’s stock after selling 46,328 shares during the quarter. Sei Investments Co.’s holdings in Allstate were worth $70,403,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mizuho Securities USA LLC grew its stake in shares of Allstate by 46.6% during the 4th quarter. Mizuho Securities USA LLC now owns 25,097 shares of the insurance provider’s stock worth $4,838,000 after purchasing an additional 7,975 shares during the period. ZEGA Investments LLC acquired a new stake in shares of Allstate in the fourth quarter valued at about $209,000. Millstone Evans Group LLC purchased a new stake in Allstate during the fourth quarter worth about $272,000. Adams Diversified Equity Fund Inc. grew its position in Allstate by 18.4% during the fourth quarter. Adams Diversified Equity Fund Inc. now owns 123,700 shares of the insurance provider’s stock worth $23,848,000 after buying an additional 19,200 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Allstate by 28.9% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 6,556 shares of the insurance provider’s stock valued at $1,264,000 after buying an additional 1,469 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Buying and Selling at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.

Allstate Trading Down 1.7 %

NYSE ALL opened at $206.60 on Monday. The company has a market cap of $54.76 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91. 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 company has a 50-day moving average of $193.75 and a 200-day moving average of $193.12.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, topping the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. As a group, equities analysts predict that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate announced that its board has initiated a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.00 dividend. This is a positive change from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s dividend payout ratio (DPR) is 23.54%.

Analyst Ratings Changes

A number of research firms recently weighed in on ALL. Piper Sandler upped their price target on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Argus raised Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company lifted their target price on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $217.94.

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.