The Allstate Co. (NYSE:ALL) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in The Allstate Co. (NYSE:ALL - Free Report) by 56.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,792 shares of the insurance provider's stock after purchasing an additional 67,032 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Allstate worth $36,012,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in shares of Allstate in the third quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $29,000. Peoples Bank KS acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $49,000. Stonebridge Financial Group LLC acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $53,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $57,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on ALL. Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Evercore ISI raised shares of Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. Piper Sandler upped their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $235.00 to $240.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Finally, The Goldman Sachs Group upped their price objective on shares of Allstate from $209.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Allstate presently has an average rating of "Moderate Buy" and an average target price of $217.94.

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Allstate Trading Up 1.9 %

Shares of ALL stock traded up $3.75 during mid-day trading on Thursday, reaching $202.00. The company's stock had a trading volume of 1,674,141 shares, compared to its average volume of 1,919,515. The company's 50 day simple moving average is $191.39 and its 200-day simple moving average is $192.21. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $209.88. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $53.54 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47.

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

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.98%. This is a positive change from Allstate's previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Monday, March 10th. Allstate's dividend payout ratio (DPR) is presently 23.54%.

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

Insider Activity at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the firm's 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company's stock.

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.