The Allstate Co. (NYSE:ALL) Shares Bought by Invesco Ltd.

Invesco Ltd. increased its position in shares of The Allstate Co. (NYSE:ALL - Free Report) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,681,306 shares of the insurance provider's stock after purchasing an additional 106,730 shares during the quarter. Invesco Ltd. owned approximately 1.39% of Allstate worth $709,719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. VSM Wealth Advisory LLC bought a new stake in shares of Allstate in the 4th quarter valued at about $25,000. Twin Tree Management LP acquired a new position in shares of Allstate in the fourth quarter valued at approximately $27,000. Vision Financial Markets LLC acquired a new position in shares of Allstate during the 4th quarter worth approximately $29,000. Hopwood Financial Services Inc. acquired a new stake in Allstate during the fourth quarter worth about $29,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Allstate in the 4th quarter valued at approximately $40,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on ALL. Barclays cut their price objective on Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research note on Friday. Wells Fargo & Company increased their price target 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. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. StockNews.com upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, April 8th. Finally, Evercore ISI upgraded shares of Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $219.27.

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Allstate Stock Up 0.9 %

Shares of NYSE ALL traded up $1.79 during midday trading on Friday, reaching $192.58. 1,876,905 shares of the company's stock traded hands, compared to its average volume of 1,619,636. The company has a market cap of $51.04 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 1.01 and a beta of 0.36. The stock's 50 day simple moving average is $196.82 and its 200-day simple moving average is $194.22. 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 one year low of $156.66 and a one year high of $212.91.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data 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%. On average, analysts predict that The Allstate Co. will post 18.74 EPS for the current fiscal year.

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 given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.08%. The ex-dividend date was Monday, March 10th. This is an increase from Allstate's previous quarterly dividend of $0.92. Allstate's payout ratio is currently 23.54%.

Allstate declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction that occurred 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 transaction, the chief financial officer now owns 18,115 shares in the company, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.80% of the company's stock.

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.