Royal London Asset Management Ltd. Lowers Holdings in The Allstate Co. (NYSE:ALL)

Royal London Asset Management Ltd. decreased its position in shares of The Allstate Co. (NYSE:ALL - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,059 shares of the insurance provider's stock after selling 1,389 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Allstate were worth $21,604,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Allstate by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider's stock valued at $109,605,000 after buying an additional 28,584 shares during the period. Ameritas Advisory Services LLC grew its position in Allstate by 117.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider's stock worth $944,000 after acquiring an additional 2,643 shares during the period. Hennessy Advisors Inc. increased its stake in Allstate by 6.9% during the fourth quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider's stock worth $11,297,000 after acquiring an additional 3,800 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Allstate by 10.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider's stock valued at $98,065,000 after purchasing an additional 48,382 shares during the period. Finally, Artemis Investment Management LLP lifted its stake in shares of Allstate by 33.3% in the 4th quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider's stock valued at $77,413,000 after purchasing an additional 100,311 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

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Analysts Set New Price Targets

Several analysts recently issued reports on ALL shares. Piper Sandler boosted their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price target on Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Evercore ISI upgraded Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. Finally, Barclays cut 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $217.94.

Insiders Place Their Bets

In related news, CFO Jesse E. Merten sold 40,102 shares of the company'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 sale, the chief financial officer now directly owns 18,115 shares of the company's stock, valued at $3,378,990.95. This represents a 68.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.80% of the company's stock.

Allstate Stock Up 0.5 %

Shares of ALL traded up $1.04 during mid-day trading on Wednesday, reaching $209.16. The company's stock had a trading volume of 1,086,710 shares, compared to its average volume of 1,938,715. The company's 50 day moving average is $194.67 and its 200 day moving average is $193.43. The stock has a market cap of $55.43 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. 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 current ratio of 0.36 and a quick ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last released 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 net margin of 7.28% and a return on equity of 28.20%. Equities analysts anticipate that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.00 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a yield of 1.91%. Allstate's payout ratio is 23.54%.

Allstate declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

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.