Intech Investment Management LLC Lowers Stake in The Allstate Co. (NYSE:ALL)

Intech Investment Management LLC trimmed its position in The Allstate Co. (NYSE:ALL - Free Report) by 56.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,741 shares of the insurance provider's stock after selling 83,725 shares during the quarter. Intech Investment Management LLC's holdings in Allstate were worth $12,289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new position in Allstate in the 3rd quarter valued at about $26,000. Twin Tree Management LP acquired a new position in Allstate in the 4th quarter valued at about $27,000. Vision Financial Markets LLC acquired a new position in Allstate in the 4th quarter valued at about $29,000. Hopwood Financial Services Inc. acquired a new position in Allstate in the 4th quarter valued at about $29,000. Finally, Peoples Bank KS acquired a new position in Allstate in the 4th quarter valued at about $49,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

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Allstate Stock Down 1.7 %

Shares of NYSE:ALL traded down $3.58 during trading hours on Friday, reaching $206.60. The stock had a trading volume of 2,886,777 shares, compared to its average volume of 1,504,505. The Allstate Co. has a 1 year low of $156.66 and a 1 year high of $212.91. The firm's 50 day moving average is $193.75 and its 200-day moving average is $193.07. 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 market capitalization of $54.76 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating 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%. Research analysts predict that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

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

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 paid a dividend of $1.00 per share. This is a positive change from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Monday, March 10th. Allstate's dividend payout ratio (DPR) is currently 23.54%.

Analyst Upgrades and Downgrades

ALL has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Barclays decreased their price objective on shares of Allstate from $187.00 to $183.00 and set an "underweight" rating on the stock in a report on Monday, January 6th. Piper Sandler upped their price objective on shares of Allstate from $206.00 to $244.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Wells Fargo & Company upped their price objective on shares of Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 14th. Finally, Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. One equities 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Allstate presently has an average rating of "Moderate Buy" and an average target price of $217.94.

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.