Rhumbline Advisers Increases Stock Holdings in The Allstate Co. (NYSE:ALL)

Rhumbline Advisers lifted its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 530,929 shares of the insurance provider's stock after purchasing an additional 16,969 shares during the quarter. Rhumbline Advisers owned about 0.20% of Allstate worth $109,940,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bank of America Corp DE raised its position 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 worth $1,270,705,000 after acquiring an additional 4,035,629 shares in the last quarter. Norges Bank purchased a new position in Allstate in the fourth quarter worth $344,354,000. GQG Partners LLC raised its position in Allstate by 64.1% in the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock worth $832,181,000 after acquiring an additional 1,685,694 shares in the last quarter. GAMMA Investing LLC raised its position in Allstate by 25,026.1% in the first quarter. GAMMA Investing LLC now owns 1,273,895 shares of the insurance provider's stock worth $263,785,000 after acquiring an additional 1,268,825 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its position 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 worth $215,757,000 after acquiring an additional 1,111,748 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Analysts Set New Price Targets

ALL has been the subject of several research analyst reports. Argus upgraded 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 target price (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. Barclays lowered their target price on Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Morgan Stanley upped their target price on Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

Allstate Price Performance

Shares of ALL traded down $0.39 during trading hours on Thursday, reaching $206.41. 999,964 shares of the company traded hands, compared to its average volume of 1,606,589. The stock has a fifty day simple moving average of $199.58 and a 200 day simple moving average of $197.09. 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 Allstate Co. has a fifty-two week low of $156.66 and a fifty-two week high of $213.18. The stock has a market capitalization of $54.66 billion, a PE 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $16.41 billion. During the same period in the previous year, the business posted $5.13 earnings per share. The firm's quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts predict that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

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 paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Monday, June 9th. Allstate's payout ratio is 27.32%.

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

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.