Mach 1 Financial Group LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

Mach 1 Financial Group LLC bought a new position in The Allstate Co. (NYSE:ALL) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 5,414 shares of the insurance provider’s stock, valued at approximately $758,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Gradient Investments LLC lifted its position in Allstate by 1.6% during the 4th quarter. Gradient Investments LLC now owns 4,130 shares of the insurance provider’s stock valued at $578,000 after acquiring an additional 66 shares during the period. Brighton Jones LLC raised its holdings in Allstate by 1.9% in the fourth quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock worth $541,000 after buying an additional 71 shares during the last quarter. SVB Wealth LLC raised its holdings in Allstate by 1.2% in the fourth quarter. SVB Wealth LLC now owns 6,169 shares of the insurance provider’s stock worth $864,000 after buying an additional 72 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in Allstate by 1.5% in the fourth quarter. AdvisorNet Financial Inc now owns 5,384 shares of the insurance provider’s stock worth $754,000 after buying an additional 82 shares during the last quarter. Finally, Carmel Capital Partners LLC raised its holdings in Allstate by 19.2% in the third quarter. Carmel Capital Partners LLC now owns 516 shares of the insurance provider’s stock worth $57,000 after buying an additional 83 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allstate

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were 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 disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Jefferies Financial Group raised shares of Allstate from a “hold” rating to a “buy” rating and lifted their target price for the stock from $130.00 to $180.00 in a report on Tuesday, January 9th. Keefe, Bruyette & Woods lifted their price target on shares of Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Roth Mkm lifted their price target on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Piper Sandler lifted their price target on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $173.71.

Allstate Price Performance

Shares of NYSE:ALL traded up $0.46 during midday trading on Tuesday, reaching $170.04. 1,124,609 shares of the company were exchanged, compared to its average volume of 1,668,521. 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 business’s fifty day moving average is $165.45 and its two-hundred day moving average is $150.37. The Allstate Co. has a one year low of $100.57 and a one year high of $176.93. The stock has a market cap of $44.73 billion, a PE ratio of -137.13, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52.

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

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a dividend of $0.92 per share. The ex-dividend date was Friday, March 1st. This represents a $3.68 annualized dividend and a yield of 2.16%. This is a positive change from Allstate’s previous quarterly dividend of $0.89. 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.