Welch & Forbes LLC Sells 75 Shares of The Allstate Co. (NYSE:ALL)

Welch & Forbes LLC reduced its position in shares of The Allstate Co. (NYSE:ALL) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,439 shares of the insurance provider’s stock after selling 75 shares during the quarter. Welch & Forbes LLC’s holdings in Allstate were worth $901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALL. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Allstate in the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Allstate in the 4th quarter valued at $36,000. Venturi Wealth Management LLC grew its holdings in Allstate by 152.7% in the 4th quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after buying an additional 168 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Allstate during the fourth quarter worth $43,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of Allstate in the third quarter valued at about $48,000. Institutional investors own 76.47% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

ALL has been the topic of a number of research analyst reports. TheStreet raised shares of Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods upped their price target on Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Jefferies Financial Group raised shares of Allstate from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $180.00 in a report on Tuesday, January 9th. Piper Sandler boosted their target price on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Finally, Raymond James boosted their target price on Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.18.

Allstate Trading Up 1.4 %

Shares of NYSE ALL traded up $2.33 during mid-day trading on Wednesday, reaching $170.52. 304,967 shares of the company’s stock were exchanged, compared to its average volume of 1,665,425. The company’s 50-day moving average is $166.44 and its 200-day moving average is $151.91. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $177.37. The firm has a market capitalization of $45.00 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 0.39 and a beta of 0.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. Allstate had a return on equity of 14.44% and a net margin of 2.31%. The company had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same period last year, the firm earned ($1.30) EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts expect that The Allstate Co. will post 14.57 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.92 per share. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a dividend yield of 2.16%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

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.