Wellington Management Group LLP Sells 874,438 Shares of The Allstate Co. (NYSE:ALL)

Wellington Management Group LLP cut its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 91.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,351 shares of the insurance provider's stock after selling 874,438 shares during the period. Wellington Management Group LLP's holdings in Allstate were worth $16,455,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ALL. O Shaughnessy Asset Management LLC increased its stake in shares of Allstate by 9.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 63,568 shares of the insurance provider's stock valued at $12,255,000 after buying an additional 5,476 shares during the period. Brandywine Global Investment Management LLC lifted its stake in Allstate by 0.5% in the 4th quarter. Brandywine Global Investment Management LLC now owns 479,247 shares of the insurance provider's stock worth $92,394,000 after purchasing an additional 2,292 shares in the last quarter. IPG Investment Advisors LLC acquired a new position in Allstate in the 4th quarter valued at about $1,319,000. Schroder Investment Management Group raised its position in Allstate by 45.9% in the fourth quarter. Schroder Investment Management Group now owns 63,410 shares of the insurance provider's stock valued at $12,225,000 after purchasing an additional 19,947 shares during the period. Finally, Allianz SE purchased a new position in shares of Allstate during the 4th quarter worth approximately $314,000. Institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

Shares of ALL traded up $2.79 on Monday, reaching $195.34. 71,158 shares of the stock traded hands, compared to its average volume of 1,982,893. The firm has a market cap of $51.77 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.01 and a beta of 0.36. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91. The stock's 50-day moving average price is $196.82 and its 200-day moving average price is $194.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40.

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Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS 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 forecast that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate declared that its board has authorized a share repurchase program on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to buy up to 3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid 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 2.05%. Allstate's payout ratio is 23.54%.

Insider Activity

In related news, CFO Jesse E. Merten sold 40,102 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $186.53, for a total value 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 approximately $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 accessible through this link. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods dropped their price objective on Allstate from $240.00 to $228.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Evercore ISI raised Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. Wells Fargo & Company raised their price objective on shares of Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 14th. StockNews.com upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research report on Tuesday, April 8th. 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, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Allstate presently has a consensus rating of "Moderate Buy" and an average price target of $219.27.

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.