The Allstate Co. (NYSE:ALL) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC raised its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,854 shares of the insurance provider's stock after purchasing an additional 1,356 shares during the period. MetLife Investment Management LLC's holdings in Allstate were worth $13,853,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction 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 of the company's stock, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Allstate Stock Up 0.6 %

Allstate stock traded up $1.14 during trading hours on Wednesday, hitting $195.04. 1,137,587 shares of the stock traded hands, compared to its average volume of 1,617,752. The Allstate Co. has a one year low of $156.66 and a one year high of $212.91. The company has a market cap of $51.69 billion, a PE ratio of 11.48, a PEG ratio of 1.01 and a beta of 0.36. The firm's 50-day moving average price is $197.39 and its two-hundred day moving average price is $194.39. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

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

Allstate declared that its board has initiated a stock buyback plan 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 plans are usually an indication that the company's leadership believes its stock is undervalued.

Allstate Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 2.05%. This is a positive change from Allstate's previous quarterly dividend of $0.92. Allstate's dividend payout ratio (DPR) is 23.54%.

Analyst Ratings Changes

ALL has been the subject of several recent analyst reports. Wells Fargo & Company increased their target price on Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 14th. Evercore ISI upgraded Allstate from an "in-line" rating to an "outperform" rating in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods reduced their price objective on Allstate from $240.00 to $228.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Barclays lowered their target price on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Allstate currently has a consensus rating of "Moderate Buy" and an average target price of $219.27.

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.