The Allstate Co. (NYSE:ALL) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 7.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 371,089 shares of the insurance provider's stock after selling 27,770 shares during the quarter. Wells Fargo & Company MN owned about 0.14% of Allstate worth $71,542,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new position in shares of Allstate during the fourth quarter valued at approximately $344,354,000. GQG Partners LLC lifted its position in shares of Allstate by 64.1% during the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock worth $832,181,000 after purchasing an additional 1,685,694 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Allstate by 15,062.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider's stock worth $215,757,000 after purchasing an additional 1,111,748 shares during the last quarter. Vanguard Group Inc. increased its stake in Allstate by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider's stock worth $6,291,783,000 after buying an additional 389,426 shares during the period. Finally, National Pension Service lifted its holdings in Allstate by 69.7% during the 4th quarter. National Pension Service now owns 708,098 shares of the insurance provider's stock valued at $136,514,000 after buying an additional 290,858 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

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Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the sale, the chief financial officer now directly owns 18,115 shares in the company, valued at $3,378,990.95. This represents a 68.88 % decrease in their position. The sale 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.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALL. JPMorgan Chase & Co. lifted their price target on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Argus raised Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Evercore ISI upgraded Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. Wells Fargo & Company increased their target price 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, Keefe, Bruyette & Woods reduced their price target on shares of Allstate from $240.00 to $228.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. One 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $219.27.

Allstate Price Performance

NYSE:ALL traded up $2.26 during trading hours on Monday, reaching $194.81. 171,337 shares of the company were exchanged, compared to its average volume of 1,613,986. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The firm has a market cap of $51.63 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.01 and a beta of 0.36. The Allstate Co. has a twelve month low of $156.66 and a twelve month high of $212.91. The stock's 50-day moving average is $196.82 and its 200-day moving average is $194.22.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, topping 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%. On average, sell-side analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate announced that its board 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 typically an indication that the company's management believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a yield of 2.05%. Allstate's payout ratio is presently 23.54%.

About Allstate

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.