Horizon Investments LLC Increases Stock Position in The Allstate Co. (NYSE:ALL)

Horizon Investments LLC lifted its holdings in shares of The Allstate Co. (NYSE:ALL) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,415 shares of the insurance provider’s stock after acquiring an additional 88 shares during the quarter. Horizon Investments LLC’s holdings in Allstate were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp lifted its holdings in shares of Allstate by 1.1% during the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock valued at $2,190,758,000 after acquiring an additional 126,922 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Allstate by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock valued at $1,178,164,000 after acquiring an additional 74,537 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Allstate by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,834,172 shares of the insurance provider’s stock valued at $353,610,000 after acquiring an additional 19,463 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Allstate by 15,062.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock valued at $215,757,000 after acquiring an additional 1,111,748 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Allstate by 11.8% during the 3rd quarter. FMR LLC now owns 933,352 shares of the insurance provider’s stock valued at $177,010,000 after acquiring an additional 98,179 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insiders Place Their Bets

In other Allstate 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 value of $7,480,226.06. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by insiders.

Allstate Price Performance

Shares of NYSE:ALL opened at $204.77 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The Allstate Co. has a fifty-two week low of $156.66 and a fifty-two week high of $211.15. The firm has a 50-day simple moving average of $192.87 and a 200 day simple moving average of $192.82. The company has a market cap of $54.27 billion, a PE ratio of 12.05, a P/E/G ratio of 1.01 and a beta of 0.47.

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

Allstate declared that its board has approved a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is currently 23.54%.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent research reports. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Wells Fargo & Company boosted their price objective on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Barclays cut their price objective 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. Piper Sandler boosted their price objective 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, Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.