The Allstate Co. (NYSE:ALL) Stock Holdings Lessened by Advisory Services Network LLC

Advisory Services Network LLC lessened its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,090 shares of the insurance provider's stock after selling 1,672 shares during the quarter. Advisory Services Network LLC's holdings in Allstate were worth $1,752,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. VSM Wealth Advisory LLC purchased a new position in shares of Allstate during the 4th quarter valued at approximately $25,000. Twin Tree Management LP bought a new position in Allstate during the 4th quarter valued at $27,000. Vision Financial Markets LLC acquired a new position in Allstate during the 4th quarter worth $29,000. Hopwood Financial Services Inc. bought a new stake in shares of Allstate in the 4th quarter worth about $29,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Allstate in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 76.47% of the company's stock.

Insider Buying and Selling

In related news, CFO Jesse E. Merten sold 40,102 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the sale, the chief financial officer now owns 18,115 shares in the company, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company's stock.

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Allstate Stock Performance

Shares of NYSE ALL traded down $0.97 during midday trading on Tuesday, reaching $194.53. 1,691,592 shares of the company traded hands, compared to its average volume of 1,621,924. The company has a market cap of $51.56 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.01 and a beta of 0.36. The stock has a 50-day moving average price of $196.87 and a 200 day moving average price of $194.27. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40.

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

Allstate announced that its Board of Directors has approved a stock 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 buy up to 3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 2.06%. Allstate's dividend payout ratio (DPR) is currently 23.54%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Evercore ISI raised Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. Wells Fargo & Company upped their price target on Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 14th. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods lowered their target price on shares of Allstate from $240.00 to $228.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Barclays reduced their price target on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and a consensus price target of $219.27.

Allstate 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.