The Allstate Co. (NYSE:ALL) Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd trimmed its stake in shares of The Allstate Co. (NYSE:ALL) by 15.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,568 shares of the insurance provider’s stock after selling 1,625 shares during the quarter. Vinva Investment Management Ltd’s holdings in Allstate were worth $1,650,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp lifted its holdings in Allstate by 1.1% during the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after buying an additional 126,922 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Allstate by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock worth $1,178,164,000 after buying an additional 74,537 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in 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 worth $353,610,000 after buying an additional 19,463 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in 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 worth $215,757,000 after buying an additional 1,111,748 shares during the last quarter. Finally, FMR LLC lifted its holdings in Allstate by 11.8% during the 3rd quarter. FMR LLC now owns 933,352 shares of the insurance provider’s stock worth $177,010,000 after buying an additional 98,179 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of recent analyst reports. Piper Sandler lifted 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. Wells Fargo & Company boosted their target price on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Argus raised Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Finally, Barclays reduced their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. One research 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $217.94.

Insider Transactions at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $210.20 on Friday. The stock has a market capitalization of $55.71 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $212.91. The stock’s 50-day moving average price is $193.24 and its 200 day moving average price is $192.94. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts forecast that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.90%. This is an increase from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s dividend payout ratio is 23.54%.

Allstate declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

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.