University of Texas Texas AM Investment Management Co. Acquires New Position in The Allstate Co. (NYSE:ALL)

University of Texas Texas AM Investment Management Co. acquired a new stake in shares of The Allstate Co. (NYSE:ALL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 17,635 shares of the insurance provider's stock, valued at approximately $3,400,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC lifted its holdings in Allstate by 10.5% during 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 buying an additional 48,382 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Allstate by 56.0% during the 4th 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 in the last quarter. CIBC Asset Management Inc lifted its holdings in Allstate by 4.7% during the 4th quarter. CIBC Asset Management Inc now owns 40,579 shares of the insurance provider's stock valued at $7,823,000 after buying an additional 1,828 shares in the last quarter. Keybank National Association OH lifted its holdings in Allstate by 1.7% during the 4th quarter. Keybank National Association OH now owns 344,875 shares of the insurance provider's stock valued at $66,489,000 after buying an additional 5,786 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Allstate by 63.9% in the 4th quarter. Blue Trust Inc. now owns 4,900 shares of the insurance provider's stock valued at $929,000 after purchasing an additional 1,911 shares in the last quarter. Institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

Shares of ALL traded up $0.87 during trading hours on Friday, hitting $203.39. The stock had a trading volume of 821,314 shares, compared to its average volume of 1,612,293. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The firm has a 50-day moving average price of $199.58 and a 200 day moving average price of $196.44. The Allstate Co. has a fifty-two week low of $156.66 and a fifty-two week high of $212.91. The firm has a market capitalization of $53.86 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.01 and a beta of 0.32.

Allstate (NYSE:ALL - Get Free Report) last posted 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). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $16.41 billion. During the same quarter in the prior year, the firm earned $5.13 earnings per share. The business's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a dividend of $1.00 per share. The ex-dividend date was Monday, March 10th. 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 1.97%. Allstate's dividend payout ratio is currently 27.32%.

Allstate declared that its board has authorized a share buyback program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently commented on ALL shares. Evercore ISI boosted their price target on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. 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. JPMorgan Chase & Co. boosted their price target on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Raymond James restated a "strong-buy" rating and issued a $250.00 price target (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Allstate in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.