First Hawaiian Bank Takes $476,000 Position in The Allstate Co. (NYSE:ALL)

First Hawaiian Bank bought a new stake in The Allstate Co. (NYSE:ALL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,299 shares of the insurance provider's stock, valued at approximately $476,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALL. Bank of America Corp DE grew its stake in Allstate by 157.9% in the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after acquiring an additional 4,035,629 shares during the period. Norges Bank acquired a new position in Allstate in the fourth quarter valued at about $344,354,000. GQG Partners LLC grew its stake in Allstate by 64.1% in the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock valued at $832,181,000 after acquiring an additional 1,685,694 shares during the period. Strategic Financial Concepts LLC grew its stake in 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 valued at $215,757,000 after acquiring an additional 1,111,748 shares during the period. Finally, Castle Hook Partners LP grew its stake in Allstate by 1,303.3% in the fourth quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock valued at $159,021,000 after acquiring an additional 766,058 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Down 0.2%

NYSE:ALL traded down $0.39 on Thursday, hitting $206.41. 999,964 shares of the company's stock were exchanged, compared to its average volume of 1,606,589. The firm has a 50-day moving average price of $199.58 and a 200-day moving average price of $197.09. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $213.18. The company has a market cap of $54.66 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32.

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

Allstate announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, June 9th. This represents a $4.00 annualized dividend and a yield of 1.94%. Allstate's dividend payout ratio (DPR) is presently 27.32%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ALL shares. Keefe, Bruyette & Woods boosted their target price on Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. Raymond James reaffirmed a "strong-buy" rating and issued a $250.00 target price (up from $240.00) on shares of Allstate in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued 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 $225.20.

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.