one8zero8 LLC Makes New Investment in The Allstate Co. (NYSE:ALL)

one8zero8 LLC bought a new position in The Allstate Co. (NYSE:ALL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,570 shares of the insurance provider's stock, valued at approximately $303,000.

A number of other large investors have also bought and sold shares of ALL. United Bank purchased a new position in shares of Allstate in the third quarter valued at $209,000. Entropy Technologies LP purchased a new position in shares of Allstate in the third quarter valued at $284,000. Harbour Investments Inc. grew its position in shares of Allstate by 5.4% in the third quarter. Harbour Investments Inc. now owns 2,503 shares of the insurance provider's stock valued at $475,000 after purchasing an additional 128 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Allstate by 4.1% in the third quarter. Oppenheimer & Co. Inc. now owns 12,552 shares of the insurance provider's stock valued at $2,380,000 after purchasing an additional 491 shares in the last quarter. Finally, Curi RMB Capital LLC purchased a new position in shares of Allstate in the third quarter valued at $224,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 transaction of $7,480,226.06. Following the transaction, the chief financial officer now owns 18,115 shares in the company, valued at $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ALL shares. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Barclays reduced 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. Evercore ISI raised Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on Allstate from $235.00 to $240.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $217.94.

Allstate Trading Up 2.6 %

Shares of NYSE ALL traded up $5.33 during midday trading on Thursday, reaching $210.20. The company had a trading volume of 2,542,646 shares, compared to its average volume of 1,501,457. The Allstate Co. has a one year low of $156.66 and a one year high of $212.96. 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 firm's fifty day moving average price is $192.87 and its 200-day moving average price is $192.82. The stock has a market cap of $55.71 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47.

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

Allstate declared that its Board of Directors has initiated a share repurchase 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 stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Monday, March 10th. This is a positive change from Allstate's previous quarterly dividend of $0.92. Allstate's payout ratio is 23.54%.

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.