Meadow Creek Wealth Advisors LLC Invests $754,000 in The Allstate Co. (NYSE:ALL)

Meadow Creek Wealth Advisors LLC bought a new position in The Allstate Co. (NYSE:ALL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,385 shares of the insurance provider’s stock, valued at approximately $754,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ellsworth Advisors LLC bought a new position in shares of Allstate in the fourth quarter worth approximately $4,312,000. Ritholtz Wealth Management lifted its position in Allstate by 2.8% during the fourth quarter. Ritholtz Wealth Management now owns 13,587 shares of the insurance provider’s stock valued at $1,902,000 after purchasing an additional 374 shares during the period. Everett Harris & Co. CA bought a new position in Allstate during the fourth quarter valued at approximately $218,000. FLC Capital Advisors bought a new position in Allstate during the fourth quarter valued at approximately $228,000. Finally, Well Done LLC bought a new position in Allstate during the fourth quarter valued at approximately $232,000. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling

In related news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction dated 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 directly owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were 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 filing with the SEC, which is available through this link. Also, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction dated 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 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. 1.70% of the stock is owned by corporate insiders.

Allstate Price Performance

Shares of ALL stock traded up $3.18 on Thursday, hitting $173.02. 1,735,418 shares of the stock traded hands, compared to its average volume of 1,772,416. The firm has a market cap of $45.52 billion, a price-to-earnings ratio of -139.53, a PEG ratio of 0.45 and a beta of 0.51. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $173.47. The firm has a 50 day simple moving average of $159.48 and a two-hundred day simple moving average of $140.38. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37.

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, beating analysts’ consensus estimates of $3.87 by $1.95. The company had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. Allstate’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.36) EPS. As a group, equities research analysts predict that The Allstate Co. will post 13.11 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be paid a $0.92 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, March 1st. Allstate’s dividend payout ratio (DPR) is presently -296.77%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ALL. Morgan Stanley upgraded shares of Allstate from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $117.00 to $171.00 in a research report on Thursday, January 4th. UBS Group lifted their price target on shares of Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. TheStreet upgraded shares of Allstate from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Jefferies Financial Group upgraded shares of Allstate from a “hold” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $180.00 in a research note on Tuesday, January 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Allstate from $164.00 to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.56.

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.