Mizuho Securities USA LLC Raises Stake in The Allstate Co. (NYSE:ALL)

Mizuho Securities USA LLC grew its position in The Allstate Co. (NYSE:ALL - Free Report) by 46.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,097 shares of the insurance provider's stock after buying an additional 7,975 shares during the period. Mizuho Securities USA LLC's holdings in Allstate were worth $4,838,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ALL. Apella Capital LLC boosted its position in shares of Allstate by 1.9% in the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider's stock valued at $623,000 after acquiring an additional 60 shares during the period. Avior Wealth Management LLC boosted its stake in Allstate by 4.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider's stock valued at $252,000 after purchasing an additional 62 shares during the last quarter. Perigon Wealth Management LLC raised its position in Allstate by 2.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider's stock worth $571,000 after acquiring an additional 62 shares during the period. Mather Group LLC. boosted its position in Allstate by 1.7% during the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider's stock worth $697,000 after purchasing an additional 62 shares during the period. Finally, Angeles Wealth Management LLC grew its holdings in Allstate by 4.6% during the 4th quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider's stock valued at $270,000 after buying an additional 62 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Remove Ads

Allstate Price Performance

Shares of Allstate stock traded up $0.10 during midday trading on Thursday, hitting $209.38. 1,827,467 shares of the company traded hands, compared to its average volume of 1,496,044. The firm's fifty day moving average price is $195.10 and its 200-day moving average price is $193.54. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The stock has a market cap of $55.49 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL - Get Free Report) last posted 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 net margin of 7.28% and a return on equity of 28.20%. As a group, sell-side analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 1.91%. This is a positive change from Allstate's previous quarterly dividend of $0.92. Allstate's dividend payout ratio is currently 23.54%.

Allstate announced that its board has initiated a share buyback plan on Wednesday, February 26th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

ALL has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 14th. Evercore ISI raised shares of Allstate from an "in-line" rating to an "outperform" rating in a research report on Wednesday, January 8th. Barclays decreased their price target on shares of Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a research note on Monday, January 6th. Keefe, Bruyette & Woods lifted their price objective 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. Finally, Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Allstate has an average rating of "Moderate Buy" and a consensus target price of $217.94.

Insider Transactions at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the business'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 transaction, the chief financial officer now owns 18,115 shares of the company's stock, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.