The Allstate Co. (NYSE:ALL) Position Raised by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,419,728 shares of the insurance provider's stock after acquiring an additional 191,147 shares during the quarter. Geode Capital Management LLC owned approximately 2.42% of Allstate worth $1,236,060,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Apella Capital LLC raised its position in shares of Allstate by 1.9% during the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider's stock worth $623,000 after purchasing an additional 60 shares during the last quarter. Intrust Bank NA increased its position in Allstate by 0.5% during the fourth quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider's stock worth $2,340,000 after buying an additional 61 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Allstate by 2.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider's stock valued at $571,000 after acquiring an additional 62 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Allstate by 1.7% during the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider's stock valued at $697,000 after acquiring an additional 62 shares during the last quarter. Finally, Angeles Wealth Management LLC increased its position in Allstate by 4.6% during the 4th quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider's stock worth $270,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

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Allstate Stock Down 9.1 %

Shares of ALL traded down $18.58 during midday trading on Friday, hitting $186.74. The company had a trading volume of 3,351,598 shares, compared to its average volume of 1,590,545. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. The company's 50 day moving average price is $197.37 and its 200 day moving average price is $194.35. The stock has a market cap of $49.49 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.01 and a beta of 0.47.

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

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

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $1.00 per share. 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 2.14%. The ex-dividend date was Monday, March 10th. Allstate's dividend payout ratio is currently 23.54%.

Insiders Place Their Bets

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the 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 sale, the chief financial officer now directly owns 18,115 shares of the company's stock, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on ALL shares. StockNews.com lowered shares of Allstate from a "buy" rating to a "hold" rating in a report on Monday, March 31st. Wells Fargo & Company upped their price objective 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. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Evercore ISI raised Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. Finally, Barclays lowered their price target on Allstate from $187.00 to $183.00 and set an "underweight" rating for the company in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $219.80.

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.