Pinebridge Investments L.P. Acquires 14,128 Shares of The Allstate Co. (NYSE:ALL)

Pinebridge Investments L.P. lifted its position in The Allstate Co. (NYSE:ALL - Free Report) by 11.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 138,893 shares of the insurance provider's stock after purchasing an additional 14,128 shares during the period. Pinebridge Investments L.P. owned about 0.05% of Allstate worth $26,777,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ALL. Price T Rowe Associates Inc. MD lifted its holdings in Allstate by 2.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock worth $1,799,681,000 after buying an additional 218,771 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in Allstate by 4.8% in the fourth quarter. OneDigital Investment Advisors LLC now owns 4,501 shares of the insurance provider's stock valued at $868,000 after acquiring an additional 207 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in Allstate by 0.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 25,905 shares of the insurance provider's stock valued at $4,994,000 after purchasing an additional 179 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Allstate by 34.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 19,962 shares of the insurance provider's stock worth $3,848,000 after purchasing an additional 5,093 shares during the period. Finally, Transce3nd LLC bought a new stake in shares of Allstate during the 4th quarter valued at about $568,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ALL shares. Evercore ISI raised shares of Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods decreased their target price on Allstate from $240.00 to $228.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. lifted their price target on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. StockNews.com downgraded Allstate from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Finally, Argus upgraded 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, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Allstate has a consensus rating of "Moderate Buy" and an average target price of $219.27.

Allstate Stock Down 0.9 %

Shares of NYSE:ALL traded down $1.84 during trading on Friday, reaching $193.02. 1,156,082 shares of the stock traded hands, compared to its average volume of 1,615,648. The stock has a market cap of $51.18 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 1.01 and a beta of 0.36. 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 50-day moving average of $197.62 and a two-hundred day moving average of $194.62. The Allstate Co. has a 52-week low of $156.66 and a 52-week 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 EPS for the quarter, beating the consensus estimate 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, sell-side analysts expect that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a $1.00 dividend. This is a positive change from Allstate's previous quarterly dividend of $0.92. The ex-dividend date was Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a yield of 2.07%. Allstate's payout ratio is 23.54%.

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

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction that occurred on Monday, February 10th. The shares were 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company's stock.

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.