Hsbc Holdings PLC Has $181.88 Million Stock Holdings in The Allstate Co. (NYSE:ALL)

Hsbc Holdings PLC reduced its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 945,078 shares of the insurance provider's stock after selling 12,142 shares during the quarter. Hsbc Holdings PLC owned 0.36% of Allstate worth $181,880,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Evercore ISI upgraded shares of Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods lowered their price objective on shares of Allstate from $240.00 to $228.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company raised their target price on shares of Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 14th. Finally, Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $219.27.

Insider Buying and Selling at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was 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 directly owns 18,115 shares in the company, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.80% of the company's stock.

Allstate Stock Performance

Shares of Allstate stock opened at $193.82 on Wednesday. The company has a market cap of $51.37 billion, a P/E ratio of 11.41, a PEG ratio of 1.01 and a beta of 0.36. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $197.24 and a two-hundred day moving average price of $194.39. The Allstate Co. has a 1-year low of $156.66 and a 1-year high of $212.91.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share 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, analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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 yield of 2.06%. Allstate's dividend payout ratio is currently 23.54%.

Allstate announced that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its stock is undervalued.

About Allstate

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.

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