Scotia Capital Inc. Has $6.72 Million Stock Holdings in The Allstate Co. (NYSE:ALL)

Scotia Capital Inc. lowered its stake in The Allstate Co. (NYSE:ALL - Free Report) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,835 shares of the insurance provider's stock after selling 1,799 shares during the period. Scotia Capital Inc.'s holdings in Allstate were worth $6,716,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. MML Investors Services LLC grew its holdings in Allstate by 5.6% during the third quarter. MML Investors Services LLC now owns 7,039 shares of the insurance provider's stock valued at $1,335,000 after purchasing an additional 371 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Allstate by 1.4% during the 3rd quarter. Toronto Dominion Bank now owns 130,898 shares of the insurance provider's stock worth $24,825,000 after buying an additional 1,787 shares during the period. Rehmann Capital Advisory Group grew its stake in Allstate by 6.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,582 shares of the insurance provider's stock valued at $300,000 after buying an additional 95 shares during the last quarter. McIlrath & Eck LLC raised its holdings in Allstate by 22.8% in the 3rd quarter. McIlrath & Eck LLC now owns 742 shares of the insurance provider's stock worth $141,000 after acquiring an additional 138 shares during the period. Finally, Virtu Financial LLC lifted its position in Allstate by 104.2% during the 3rd quarter. Virtu Financial LLC now owns 5,728 shares of the insurance provider's stock worth $1,086,000 after acquiring an additional 2,923 shares during the last quarter. Institutional investors own 76.47% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ALL shares. Evercore ISI raised Allstate from an "in-line" rating to an "outperform" rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Wells Fargo & Company upped their price target on Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods reduced their price objective on Allstate from $240.00 to $228.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. One 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 company currently has an average rating of "Moderate Buy" and an average price target of $219.27.

Insider Activity

In related news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the completion of the transaction, the chief financial officer now directly owns 18,115 shares of the company's stock, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by corporate insiders.

Allstate Price Performance

Shares of Allstate stock traded down $0.97 during trading on Tuesday, hitting $194.53. 1,691,592 shares of the company's stock traded hands, compared to its average volume of 1,621,924. The Allstate Co. has a twelve month low of $156.66 and a twelve 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. The company has a market cap of $51.56 billion, a PE ratio of 11.45, a PEG ratio of 1.01 and a beta of 0.36. The firm's fifty day moving average price is $196.87 and its 200 day moving average price is $194.27.

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, 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%. Analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was 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 dividend yield of 2.06%. Allstate's dividend payout ratio (DPR) is presently 23.54%.

Allstate declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors 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.