Two Sigma Advisers LP Sells 102,700 Shares of The Allstate Co. (NYSE:ALL)

Two Sigma Advisers LP reduced its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 65.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,100 shares of the insurance provider's stock after selling 102,700 shares during the quarter. Two Sigma Advisers LP's holdings in Allstate were worth $10,623,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. VSM Wealth Advisory LLC bought a new position in Allstate in the fourth quarter valued at approximately $25,000. Twin Tree Management LP bought a new position in Allstate in the fourth quarter valued at approximately $27,000. Vision Financial Markets LLC bought a new position in Allstate in the fourth quarter valued at approximately $29,000. Hopwood Financial Services Inc. bought a new position in Allstate in the fourth quarter valued at approximately $29,000. Finally, Kapitalo Investimentos Ltda bought a new position in Allstate in the fourth quarter valued at approximately $29,000. 76.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ALL shares. Raymond James reiterated a "strong-buy" rating and issued a $250.00 target price (up from $240.00) on shares of Allstate in a report on Monday, May 5th. Argus upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a report on Friday, May 16th. Morgan Stanley increased their target price on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $225.20.

Allstate Stock Down 1.1%

NYSE ALL traded down $2.34 on Wednesday, hitting $204.92. 198,967 shares of the company were exchanged, compared to its average volume of 1,604,744. The company has a market cap of $54.27 billion, a PE ratio of 12.06, a PEG ratio of 1.01 and a beta of 0.32. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91. The stock has a fifty day moving average of $199.50 and a 200-day moving average of $196.56. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL - Get Free Report) last issued 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 was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $5.13 earnings per share. As a group, analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current year.

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

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.