OLD National Bancorp IN Acquires 2,014 Shares of The Allstate Co. (NYSE:ALL)

OLD National Bancorp IN raised its position in The Allstate Co. (NYSE:ALL - Free Report) by 70.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,875 shares of the insurance provider's stock after purchasing an additional 2,014 shares during the quarter. OLD National Bancorp IN's holdings in Allstate were worth $1,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALL. Intrust Bank NA boosted its stake in shares of Allstate by 0.5% in the fourth quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider's stock valued at $2,340,000 after buying an additional 61 shares during the period. Angeles Wealth Management LLC boosted its stake in shares of Allstate by 4.6% in the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider's stock valued at $270,000 after buying an additional 62 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Allstate by 4.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,505 shares of the insurance provider's stock valued at $290,000 after buying an additional 63 shares during the period. Miracle Mile Advisors LLC boosted its stake in shares of Allstate by 1.7% in the first quarter. Miracle Mile Advisors LLC now owns 3,777 shares of the insurance provider's stock valued at $782,000 after buying an additional 63 shares during the period. Finally, Empower Advisory Group LLC boosted its stake in shares of Allstate by 5.3% in the fourth quarter. Empower Advisory Group LLC now owns 1,286 shares of the insurance provider's stock valued at $248,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Trading Down 0.9%

NYSE:ALL traded down $1.71 during trading hours on Friday, hitting $198.61. 1,330,201 shares of the company were exchanged, compared to its average volume of 1,616,726. The stock has a market capitalization of $52.60 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.01 and a beta of 0.35. 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 Allstate Co. has a one year low of $156.66 and a one year high of $213.18. The company has a fifty day simple moving average of $199.90 and a 200 day simple moving average of $197.08.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results 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 company had revenue of $14.30 billion for 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 period in the prior year, the business earned $5.13 earnings per share. Sell-side analysts expect that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate declared that its board has authorized a stock buyback program on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.01%. The ex-dividend date is Monday, June 9th. Allstate's dividend payout ratio is currently 27.32%.

Analyst Ratings Changes

Several equities research analysts have weighed in on ALL shares. Morgan Stanley upped their target price on Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. William Blair assumed coverage on Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating on the stock. Raymond James reaffirmed a "strong-buy" rating and issued a $250.00 target price (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. JPMorgan Chase & Co. raised their target price on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods raised their target price on Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

Allstate 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.