Comerica Bank Buys 1,463 Shares of The Allstate Co. (NYSE:ALL)

Comerica Bank boosted its position in shares of The Allstate Co. (NYSE:ALL - Free Report) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,400 shares of the insurance provider's stock after buying an additional 1,463 shares during the quarter. Comerica Bank's holdings in Allstate were worth $15,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Apella Capital LLC grew its stake in shares of Allstate by 1.9% during the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider's stock valued at $623,000 after buying an additional 60 shares during the last quarter. Intrust Bank NA increased its stake in Allstate by 0.5% in the fourth quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider's stock worth $2,340,000 after purchasing an additional 61 shares during the period. Perigon Wealth Management LLC boosted its stake in shares of Allstate by 2.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider's stock valued at $571,000 after purchasing an additional 62 shares during the period. Mather Group LLC. grew its holdings in shares of Allstate by 1.7% in the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider's stock worth $697,000 after purchasing an additional 62 shares during the last quarter. Finally, Angeles Wealth Management LLC increased its stake in Allstate by 4.6% in the 4th quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider's stock worth $270,000 after buying an additional 62 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Jesse E. Merten sold 40,102 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now owns 18,115 shares of the company's stock, valued at $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ALL has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Thursday. Wells Fargo & Company lifted their target price on Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods dropped their price target on Allstate from $240.00 to $228.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Barclays decreased their price objective on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $221.60.

Allstate Price Performance

NYSE ALL opened at $197.20 on Friday. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $212.91. The firm's fifty day simple moving average is $198.32 and its two-hundred day simple moving average is $194.83. 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 capitalization of $52.28 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.01 and a beta of 0.36.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The business had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. During the same quarter last year, the business posted $5.13 earnings per share. The company's quarterly revenue was up 7.8% compared to the same quarter last year. Analysts forecast that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate declared that its board has initiated a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a $1.00 dividend. 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 dividend yield of 2.03%. Allstate's dividend payout ratio is currently 23.54%.

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.

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