Magnolia Capital Advisors LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

Magnolia Capital Advisors LLC bought a new position in The Allstate Co. (NYSE:ALL) during the 4th quarter, Holdings Channel reports. The institutional investor bought 5,155 shares of the insurance provider’s stock, valued at approximately $722,000.

Several other hedge funds have also added to or reduced their stakes in ALL. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Allstate in the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Allstate during the fourth quarter valued at $36,000. Venturi Wealth Management LLC lifted its holdings in shares of Allstate by 152.7% during the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 168 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Allstate during the fourth quarter valued at $43,000. Finally, First Command Advisory Services Inc. bought a new position in shares of Allstate during the third quarter valued at $48,000. 76.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at approximately $1,712,069.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the transaction, the insider now owns 63,731 shares in the company, valued at $10,847,016.20. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ALL has been the topic of a number of research analyst reports. Piper Sandler upped their price target on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, April 1st. TheStreet raised Allstate from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. TD Cowen started coverage on Allstate in a report on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 target price on the stock. Evercore ISI increased their target price on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods increased their target price on Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.71.

Allstate Trading Down 1.7 %

Shares of ALL stock traded down $3.01 on Wednesday, reaching $172.27. 1,761,095 shares of the company’s stock were exchanged, compared to its average volume of 1,692,202. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $176.93. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $45.32 billion, a PE ratio of -138.93, a P/E/G ratio of 0.43 and a beta of 0.52. The company’s fifty day simple moving average is $164.72 and its 200 day simple moving average is $148.59.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $1.95. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The firm had revenue of $14.83 billion during the quarter, compared to analyst estimates of $12.69 billion. During the same period last year, the company earned ($1.36) EPS. Allstate’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, analysts forecast that The Allstate Co. will post 13.44 EPS for the current year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.92 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Friday, March 1st. Allstate’s dividend payout ratio (DPR) is currently -296.77%.

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.