The Allstate Co. (NYSE:ALL) Shares Sold by Trek Financial LLC

Trek Financial LLC lowered its stake in shares of The Allstate Co. (NYSE:ALL) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,690 shares of the insurance provider’s stock after selling 86 shares during the period. Trek Financial LLC’s holdings in Allstate were worth $326,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ALL. JPMorgan Chase & Co. grew its position in Allstate by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock valued at $109,605,000 after acquiring an additional 28,584 shares during the period. Ameritas Advisory Services LLC lifted its stake in shares of Allstate by 117.3% in the 4th quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock valued at $944,000 after purchasing an additional 2,643 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in shares of Allstate by 6.9% during the 4th quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider’s stock worth $11,297,000 after purchasing an additional 3,800 shares during the period. Los Angeles Capital Management LLC increased its position in Allstate by 10.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider’s stock worth $98,065,000 after purchasing an additional 48,382 shares in the last quarter. Finally, Artemis Investment Management LLP raised its holdings in Allstate by 33.3% in the fourth quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider’s stock valued at $77,413,000 after buying an additional 100,311 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALL has been the subject of several research reports. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods increased their price target on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Argus raised Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Wells Fargo & Company upped their target price on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Finally, Barclays dropped their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus price target of $219.80.

Allstate Stock Down 3.3 %

NYSE:ALL opened at $180.41 on Tuesday. The firm has a market capitalization of $47.81 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.01 and a beta of 0.36. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. 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 stock has a 50 day moving average of $197.12 and a 200-day moving average of $194.31.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share 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%. Analysts predict that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a $1.00 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 2.22%. Allstate’s dividend payout ratio (DPR) is currently 23.54%.

Allstate declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction on Monday, February 10th. The stock was 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 owns 18,115 shares in the company, valued at approximately $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

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.