Cinctive Capital Management LP Raises Holdings in The Allstate Co. (NYSE:ALL)

Cinctive Capital Management LP boosted its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 48.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,496 shares of the insurance provider's stock after purchasing an additional 8,046 shares during the quarter. Cinctive Capital Management LP's holdings in Allstate were worth $4,723,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ALL. Vanguard Group Inc. lifted its holdings in shares of Allstate by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider's stock worth $6,291,783,000 after acquiring an additional 389,426 shares during the last quarter. State Street Corp raised its holdings in shares of Allstate by 1.1% in the third quarter. State Street Corp now owns 11,496,306 shares of the insurance provider's stock valued at $2,190,758,000 after acquiring an additional 126,922 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Allstate by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider's stock valued at $1,236,060,000 after purchasing an additional 191,147 shares in the last quarter. GQG Partners LLC boosted its position in Allstate by 64.1% during the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock valued at $832,181,000 after acquiring an additional 1,685,694 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Allstate by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,834,172 shares of the insurance provider's stock worth $353,610,000 after purchasing an additional 19,463 shares during the last quarter. Institutional investors own 76.47% of the company's stock.

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Analyst Upgrades and Downgrades

ALL has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Allstate from $235.00 to $240.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Barclays dropped their price target on Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a research note on Monday, January 6th. Evercore ISI raised Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Finally, Wells Fargo & Company raised their price target on shares of Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and a consensus price target of $219.80.

Allstate Price Performance

ALL stock traded down $18.58 during mid-day trading on Friday, reaching $186.74. 3,351,598 shares of the company's stock were exchanged, compared to its average volume of 1,590,545. The company has a market cap of $49.49 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $212.91. The stock's 50 day moving average is $197.37 and its 200 day moving average is $194.35. 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 issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, topping 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%. On average, research analysts expect that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.14%. This is a boost from Allstate's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Monday, March 10th. Allstate's payout ratio is presently 23.54%.

Allstate declared that its Board of Directors has approved a share buyback program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO Jesse E. Merten sold 40,102 shares of the company's stock in a transaction on Monday, February 10th. The shares were 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 owns 18,115 shares of the company's stock, valued at $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.

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.