Russell Investments Group Ltd. Has $185.44 Million Stock Position in The Allstate Co. (NYSE:ALL)

Russell Investments Group Ltd. grew its position in shares of The Allstate Co. (NYSE:ALL - Free Report) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 961,983 shares of the insurance provider's stock after purchasing an additional 78,130 shares during the period. Russell Investments Group Ltd. owned approximately 0.36% of Allstate worth $185,438,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position 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 purchasing an additional 28,584 shares in the last quarter. Ameritas Advisory Services LLC increased its holdings in Allstate by 117.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider's stock valued at $944,000 after buying an additional 2,643 shares during the last quarter. Hennessy Advisors Inc. raised 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 valued at $11,297,000 after buying an additional 3,800 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Allstate by 10.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider's stock worth $98,065,000 after acquiring an additional 48,382 shares in the last quarter. Finally, Artemis Investment Management LLP raised its position in shares of Allstate by 33.3% during the 4th quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider's stock valued at $77,413,000 after acquiring an additional 100,311 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ALL shares. Barclays dropped their price objective 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. JPMorgan Chase & Co. raised their target price on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research note on Tuesday. StockNews.com upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday. Keefe, Bruyette & Woods cut their price objective on shares of Allstate from $240.00 to $228.00 and set an "outperform" rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company raised their price target on shares of Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $220.00.

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 transaction of $7,480,226.06. Following the sale, the chief financial officer now owns 18,115 shares in the company, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Allstate Price Performance

Shares of ALL traded down $0.72 during midday trading on Thursday, reaching $192.28. The stock had a trading volume of 1,005,192 shares, compared to its average volume of 1,613,019. The firm's 50 day moving average price is $196.81 and its 200-day moving average price is $194.17. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. The company has a market capitalization of $50.96 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.01 and a beta of 0.36. 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 posted its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, beating 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, analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a $1.00 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.00 annualized dividend and a dividend yield of 2.08%. This is a boost from Allstate's previous quarterly dividend of $0.92. Allstate's dividend payout ratio is currently 23.54%.

Allstate announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits 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 shares are undervalued.

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.