The Allstate Co. (NYSE:ALL) Shares Bought by Hancock Whitney Corp

Hancock Whitney Corp grew its holdings in shares of The Allstate Co. (NYSE:ALL - Free Report) by 30.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,095 shares of the insurance provider's stock after buying an additional 22,871 shares during the quarter. Hancock Whitney Corp's holdings in Allstate were worth $18,719,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. VSM Wealth Advisory LLC bought a new stake in shares of Allstate during the 4th quarter worth approximately $25,000. Twin Tree Management LP bought a new stake in shares of Allstate during the fourth quarter worth $27,000. Vision Financial Markets LLC purchased a new stake in shares of Allstate during the fourth quarter valued at $29,000. Hopwood Financial Services Inc. bought a new position in shares of Allstate in the fourth quarter worth about $29,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Allstate in the 4th quarter worth about $40,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Up 1.0 %

Shares of ALL stock traded up $1.94 during trading hours on Tuesday, reaching $197.35. 412,727 shares of the company's stock were exchanged, compared to its average volume of 1,918,516. The stock has a market cap of $52.33 billion, a PE ratio of 11.62, a PEG ratio of 1.01 and a beta of 0.36. 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 stock's fifty day moving average price is $197.70 and its two-hundred day moving average price is $194.74. The Allstate Co. has a 1 year low of $156.66 and a 1 year high of $212.91.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Research analysts predict that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a dividend of $1.00 per share. This is an increase from Allstate's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.03%. Allstate's payout ratio is 23.54%.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Allstate from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Wells Fargo & Company upped their target price on Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods cut their price target on Allstate from $240.00 to $228.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Allstate has a consensus rating of "Moderate Buy" and an average price target of $219.27.

Insider Activity at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $186.53, for a total value of $7,480,226.06. Following the sale, the chief financial officer now owns 18,115 shares in the company, valued at $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by insiders.

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.