Tredje AP fonden cut its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 118,151 shares of the insurance provider's stock after selling 2,880 shares during the period. Tredje AP fonden's holdings in Allstate were worth $22,778,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. FSA Wealth Management LLC acquired a new position in shares of Allstate during the third quarter worth $26,000. Vision Financial Markets LLC acquired a new stake in Allstate in the fourth quarter valued at $29,000. Hopwood Financial Services Inc. acquired a new stake in Allstate in the fourth quarter valued at $29,000. Peoples Bank KS acquired a new stake in Allstate in the fourth quarter valued at $49,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Allstate in the fourth quarter valued at $53,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity 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 transaction of $7,480,226.06. Following the transaction, the chief financial officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by insiders.
Allstate Stock Up 1.9 %
Shares of ALL stock traded up $3.75 on Thursday, reaching $202.00. 1,674,141 shares of the company were exchanged, compared to its average volume of 1,919,515. The Allstate Co. has a one year low of $156.66 and a one year high of $209.88. The company has a market cap of $53.54 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.01 and a beta of 0.47. 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 50-day moving average of $191.39 and a 200-day moving average of $192.21.
Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results 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%. Analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current year.
Allstate declared that its board has approved a stock buyback program on Wednesday, February 26th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.
Allstate Increases Dividend
The firm 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. This is a boost from Allstate's previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 1.98%. Allstate's dividend payout ratio (DPR) is presently 23.54%.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the company. Barclays decreased their price objective on Allstate from $187.00 to $183.00 and set an "underweight" rating for the company in a report on Monday, January 6th. Evercore ISI upgraded Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods increased their price target on Allstate from $235.00 to $240.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Finally, The Goldman Sachs Group increased their price target on Allstate from $209.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, November 15th. One 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $217.94.
Check Out Our Latest Report on ALL
Allstate Company Profile
(
Free Report)
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.
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