Dynamic Technology Lab Private Ltd Makes New Investment in The Allstate Co. (NYSE:ALL)

Dynamic Technology Lab Private Ltd purchased a new position in The Allstate Co. (NYSE:ALL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,960 shares of the insurance provider's stock, valued at approximately $377,000.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Allstate during the fourth quarter valued at about $344,354,000. GQG Partners LLC increased its holdings in Allstate by 64.1% in the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock worth $832,181,000 after acquiring an additional 1,685,694 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in Allstate by 15,062.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider's stock worth $215,757,000 after acquiring an additional 1,111,748 shares during the period. Vanguard Group Inc. lifted its holdings in Allstate by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider's stock valued at $6,291,783,000 after purchasing an additional 389,426 shares in the last quarter. Finally, National Pension Service boosted its position in shares of Allstate by 69.7% in the fourth quarter. National Pension Service now owns 708,098 shares of the insurance provider's stock worth $136,514,000 after purchasing an additional 290,858 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Trading Up 0.4 %

Shares of Allstate stock traded up $0.74 during trading on Tuesday, hitting $196.24. The stock had a trading volume of 254,414 shares, compared to its average volume of 1,614,396. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91. The stock has a market cap of $52.01 billion, a PE ratio of 11.55, a PEG ratio of 1.01 and a beta of 0.36. The firm's fifty day simple moving average is $196.87 and its 200-day simple moving average is $194.27.

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Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. As a group, sell-side analysts expect that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate announced that its board has authorized a share buyback program on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a $1.00 dividend. This is an increase from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Monday, March 10th. Allstate's dividend payout ratio is currently 23.54%.

Insider Activity

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the completion of the sale, the chief financial officer now directly owns 18,115 shares of the company's stock, valued at $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 14th. StockNews.com upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, April 8th. Barclays dropped their price objective on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a research note on Friday. Keefe, Bruyette & Woods decreased their target price on Allstate from $240.00 to $228.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Evercore ISI upgraded Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $219.27.

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.