The Allstate Co. (NYSE:ALL) Stake Lifted by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. boosted its stake in The Allstate Co. (NYSE:ALL - Free Report) by 5.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,499 shares of the insurance provider's stock after buying an additional 2,981 shares during the period. First Citizens Bank & Trust Co.'s holdings in Allstate were worth $11,906,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC lifted its position in Allstate by 10.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider's stock valued at $98,065,000 after purchasing an additional 48,382 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Allstate by 56.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 186,792 shares of the insurance provider's stock valued at $36,012,000 after buying an additional 67,032 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Allstate by 4.7% during the fourth quarter. CIBC Asset Management Inc now owns 40,579 shares of the insurance provider's stock worth $7,823,000 after buying an additional 1,828 shares during the period. Keybank National Association OH boosted its position in shares of Allstate by 1.7% during the fourth quarter. Keybank National Association OH now owns 344,875 shares of the insurance provider's stock worth $66,489,000 after buying an additional 5,786 shares during the period. Finally, Blackstone Inc. bought a new position in Allstate in the 4th quarter worth approximately $52,053,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Price Performance

ALL stock opened at $208.10 on Monday. The stock has a market cap of $55.11 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 1.01 and a beta of 0.35. 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 company has a 50 day simple moving average of $199.59 and a 200 day simple moving average of $197.12. The Allstate Co. has a 1 year low of $156.66 and a 1 year high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). The firm had revenue of $14.30 billion for 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 business's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $5.13 earnings per share. Research analysts anticipate that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate announced that its board has approved a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Monday, June 9th. Allstate's payout ratio is currently 27.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ALL shares. BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. JPMorgan Chase & Co. boosted their price target on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Barclays reduced their price objective on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Morgan Stanley boosted their price target on shares of 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 reduced their price objective on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average 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.

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