Novem Group Makes New Investment in The Allstate Co. (NYSE:ALL)

Novem Group bought a new stake in The Allstate Co. (NYSE:ALL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,041 shares of the insurance provider's stock, valued at approximately $3,864,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. VSM Wealth Advisory LLC purchased a new stake in Allstate during the 4th quarter worth about $25,000. Twin Tree Management LP acquired a new stake in shares of Allstate during the 4th quarter worth about $27,000. Vision Financial Markets LLC purchased a new stake in shares of Allstate during the fourth quarter worth about $29,000. Hopwood Financial Services Inc. purchased a new stake in shares of Allstate during the fourth quarter worth about $29,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Allstate in the fourth quarter valued at approximately $29,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

Shares of NYSE ALL opened at $208.09 on Wednesday. The company has a market capitalization of $55.11 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.01 and a beta of 0.32. 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 1-year low of $156.66 and a 1-year high of $212.91. The business has a 50-day moving average of $199.83 and a 200-day moving average of $196.02.

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

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a $1.00 dividend. This is a boost from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Monday, March 10th. Allstate's dividend payout ratio is presently 27.32%.

Allstate announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have commented on ALL shares. JPMorgan Chase & Co. lifted 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. Wells Fargo & Company lowered their price objective on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Morgan Stanley increased their target price on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Argus raised Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.

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