Magnolia Capital Advisors LLC Buys Shares of 5,155 The Allstate Co. (NYSE:ALL)

Magnolia Capital Advisors LLC bought a new stake in shares of The Allstate Co. (NYSE:ALL) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,155 shares of the insurance provider’s stock, valued at approximately $722,000.

Other hedge funds have also modified their holdings of the company. Gradient Investments LLC raised its stake in Allstate by 1.6% in the fourth quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock valued at $578,000 after purchasing an additional 66 shares in the last quarter. SVB Wealth LLC raised its stake in Allstate by 1.2% in the fourth quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock valued at $864,000 after purchasing an additional 72 shares in the last quarter. AdvisorNet Financial Inc raised its stake in Allstate by 1.5% in the fourth quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock valued at $754,000 after purchasing an additional 82 shares in the last quarter. Carmel Capital Partners LLC raised its stake in Allstate by 19.2% in the third quarter. Carmel Capital Partners LLC now owns 516 shares of the insurance provider’s stock valued at $57,000 after purchasing an additional 83 shares in the last quarter. Finally, Ballentine Partners LLC raised its stake in Allstate by 0.8% in the third quarter. Ballentine Partners LLC now owns 11,320 shares of the insurance provider’s stock valued at $1,261,000 after purchasing an additional 89 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Allstate

In other news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction on 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 sale, the chief accounting officer now directly 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 available at the SEC website. In other news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction on 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 sale, the chief accounting officer now directly 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 available at the SEC website. Also, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction dated 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 sale, the insider now directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler boosted their price target on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. HSBC raised shares of Allstate from a “hold” rating to a “buy” rating and increased their target price for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. Keefe, Bruyette & Woods increased their target price on shares of Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Evercore ISI increased their target price on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Roth Mkm increased their target price on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.71.

Allstate Stock Down 1.7 %

Shares of ALL traded down $3.01 during trading hours on Wednesday, reaching $172.27. The stock had a trading volume of 1,761,095 shares, compared to its average volume of 1,692,202. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $176.93. The firm has a 50-day simple moving average of $164.72 and a 200 day simple moving average of $148.59. 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 company has a market capitalization of $45.32 billion, a price-to-earnings ratio of -138.93, a P/E/G ratio of 0.43 and a beta of 0.52.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $14.83 billion for the quarter, compared to analysts’ expectations of $12.69 billion. During the same period last year, the business earned ($1.36) EPS. The business’s revenue was up 8.7% on a year-over-year basis. Equities research analysts predict that The Allstate Co. will post 13.44 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a yield of 2.14%. Allstate’s dividend payout ratio (DPR) is -296.77%.

About Allstate

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.