DT Investment Partners LLC Grows Stock Position in The Allstate Co. (NYSE:ALL)

DT Investment Partners LLC increased its stake in shares of The Allstate Co. (NYSE:ALL) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,834 shares of the insurance provider’s stock after buying an additional 274 shares during the quarter. DT Investment Partners LLC’s holdings in Allstate were worth $537,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Allstate by 11.5% during the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after buying an additional 3,322,673 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Allstate by 9.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,039,351 shares of the insurance provider’s stock valued at $669,221,000 after purchasing an additional 499,056 shares during the period. Charles Schwab Investment Management Inc. raised its position in Allstate by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,926,917 shares of the insurance provider’s stock valued at $660,318,000 after purchasing an additional 172,250 shares during the period. Geode Capital Management LLC raised its position in Allstate by 1.1% in the first quarter. Geode Capital Management LLC now owns 5,815,257 shares of the insurance provider’s stock valued at $643,015,000 after purchasing an additional 63,438 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Allstate by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 4,239,513 shares of the insurance provider’s stock valued at $472,324,000 after purchasing an additional 53,821 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

NYSE ALL traded up $3.85 during trading on Friday, reaching $172.96. 2,368,220 shares of the company’s stock were exchanged, compared to its average volume of 1,362,966. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average price of $163.84 and a two-hundred day moving average price of $147.03. The Allstate Co. has a 1 year low of $100.57 and a 1 year high of $174.57.

Allstate (NYSE:ALL) last announced 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. The company had revenue of $14.83 billion during the quarter, compared to the consensus estimate of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. Allstate’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned ($1.36) EPS. Sell-side analysts forecast that The Allstate Co. will post 13.49 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a $0.92 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Friday, March 1st. Allstate’s payout ratio is presently -296.77%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wells Fargo & Company lifted their target price on Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Piper Sandler lifted their price objective on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods lifted their price objective on Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Raymond James lifted their price objective on Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a research note on Monday, January 22nd. Finally, Evercore ISI lifted their price objective on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. One 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $173.71.

Insider Activity

In other news, insider John E. Dugenske sold 31,000 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 63,731 shares of the company’s stock, 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.

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.