Mackenzie Financial Corp Grows Position in The Allstate Co. (NYSE:ALL)

Mackenzie Financial Corp grew its position in shares of The Allstate Co. (NYSE:ALL - Free Report) by 261.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 832,902 shares of the insurance provider's stock after purchasing an additional 602,533 shares during the quarter. Mackenzie Financial Corp owned about 0.31% of Allstate worth $160,575,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Forum Financial Management LP raised its holdings in Allstate by 5.4% during the 4th quarter. Forum Financial Management LP now owns 10,202 shares of the insurance provider's stock worth $1,967,000 after purchasing an additional 523 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Allstate by 8.2% in the 4th quarter. Toronto Dominion Bank now owns 141,580 shares of the insurance provider's stock valued at $27,295,000 after acquiring an additional 10,682 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Allstate in the 4th quarter valued at $3,400,000. Public Employees Retirement System of Ohio bought a new stake in shares of Allstate in the 4th quarter valued at $21,662,000. Finally, Sunbelt Securities Inc. increased its stake in shares of Allstate by 132.4% in the 4th quarter. Sunbelt Securities Inc. now owns 846 shares of the insurance provider's stock valued at $163,000 after acquiring an additional 482 shares in the last quarter. Institutional investors own 76.47% of the company's stock.

Wall Street Analysts Forecast Growth

ALL has been the subject of several research analyst reports. BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Raymond James reissued a "strong-buy" rating and issued a $250.00 price target (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. Wells Fargo & Company reduced their price target on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Finally, Barclays reduced their price target on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. One investment 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $225.20.

Allstate Price Performance

Shares of ALL stock traded down $2.47 during trading on Wednesday, hitting $204.78. The company had a trading volume of 931,112 shares, compared to its average volume of 1,608,109. 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 stock's 50-day moving average is $199.50 and its two-hundred day moving average is $196.56. The stock has a market capitalization of $54.23 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91.

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

Allstate Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.95%. Allstate's dividend payout ratio is currently 27.32%.

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

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.