Sage Mountain Advisors LLC Acquires 562 Shares of The Allstate Co. (NYSE:ALL)

Sage Mountain Advisors LLC increased its holdings in shares of The Allstate Co. (NYSE:ALL) by 33.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,221 shares of the insurance provider’s stock after purchasing an additional 562 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Allstate were worth $428,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Apella Capital LLC boosted its holdings in shares of Allstate by 1.9% during the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock worth $623,000 after acquiring an additional 60 shares during the period. Avior Wealth Management LLC increased its position in Allstate by 4.9% during the third quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider’s stock worth $252,000 after acquiring an additional 62 shares during the period. Perigon Wealth Management LLC raised its stake in Allstate by 2.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock worth $571,000 after purchasing an additional 62 shares in the last quarter. Mather Group LLC. boosted its holdings in Allstate by 1.7% in the 4th quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock valued at $697,000 after purchasing an additional 62 shares during the period. Finally, Angeles Wealth Management LLC grew its position in shares of Allstate by 4.6% during the 4th quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock worth $270,000 after purchasing an additional 62 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALL. Piper Sandler lifted their price target on shares of Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Barclays decreased their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company increased their price objective on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group boosted their target price on shares of Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $217.94.

Allstate Stock Performance

Shares of ALL stock opened at $202.25 on Wednesday. The stock has a market capitalization of $53.60 billion, a PE ratio of 11.90, a PEG ratio of 1.01 and a beta of 0.47. The business’s 50 day simple moving average is $191.08 and its 200 day simple moving average is $192.10. 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 Allstate Co. has a one year low of $156.66 and a one year high of $209.88.

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

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.98%. Allstate’s payout ratio is 23.54%.

Allstate declared that its board has authorized a share repurchase program on Wednesday, February 26th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CFO Jesse E. Merten sold 40,102 shares of the company’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 in the company, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

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.