Mount Lucas Management LP Sells 553 Shares of The Allstate Co. (NYSE:ALL)

Mount Lucas Management LP trimmed its holdings in shares of The Allstate Co. (NYSE:ALL) by 17.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,676 shares of the insurance provider’s stock after selling 553 shares during the quarter. Mount Lucas Management LP’s holdings in Allstate were worth $516,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ALL. Strategic Financial Concepts LLC grew its position in Allstate by 15,062.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock valued at $215,757,000 after buying an additional 1,111,748 shares during the period. TimesSquare Capital Management LLC purchased a new position in Allstate during the third quarter valued at approximately $77,819,000. Los Angeles Capital Management LLC lifted its holdings in Allstate by 688.4% during the third quarter. Los Angeles Capital Management LLC now owns 460,282 shares of the insurance provider’s stock valued at $87,292,000 after purchasing an additional 401,901 shares in the last quarter. National Pension Service lifted its holdings in Allstate by 69.7% during the fourth quarter. National Pension Service now owns 708,098 shares of the insurance provider’s stock valued at $136,514,000 after purchasing an additional 290,858 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in Allstate by 22,981.9% during the fourth quarter. Proficio Capital Partners LLC now owns 269,135 shares of the insurance provider’s stock valued at $51,887,000 after purchasing an additional 267,969 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Trading Up 1.7 %

NYSE ALL opened at $200.87 on Monday. The company’s 50-day moving average price is $190.76 and its 200-day moving average price is $191.82. 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 stock has a market cap of $53.24 billion, a PE ratio of 11.82, a PEG ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 12 month low of $155.59 and a 12 month high of $209.88.

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

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.00 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.99%. Allstate’s dividend payout ratio is presently 23.54%.

Allstate declared that its board has approved a share repurchase plan on Wednesday, February 26th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the insurance provider to buy up to 3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Barclays lowered their price target on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. The Goldman Sachs Group boosted their target price on shares of Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Piper Sandler boosted their target price on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 18,115 shares of the company’s stock, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

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.