Man Group plc Has $79.45 Million Stock Holdings in The Allstate Co. (NYSE:ALL)

Man Group plc reduced its holdings in The Allstate Co. (NYSE:ALL - Free Report) by 27.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 412,119 shares of the insurance provider's stock after selling 158,881 shares during the period. Man Group plc owned approximately 0.16% of Allstate worth $79,452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Apella Capital LLC lifted its stake in Allstate by 1.9% in the fourth quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider's stock valued at $623,000 after buying an additional 60 shares during the period. Intrust Bank NA grew its holdings in Allstate by 0.5% during the fourth quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider's stock valued at $2,340,000 after purchasing an additional 61 shares during the period. Perigon Wealth Management LLC increased its stake in Allstate by 2.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider's stock valued at $571,000 after purchasing an additional 62 shares in the last quarter. Mather Group LLC. raised its holdings in Allstate by 1.7% in the fourth quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider's stock worth $697,000 after purchasing an additional 62 shares during the period. Finally, Angeles Wealth Management LLC boosted its position in shares of Allstate by 4.6% during the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider's stock worth $270,000 after purchasing an additional 62 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Evercore ISI upped 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. Argus raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Barclays cut their price target on Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Finally, Keefe, Bruyette & Woods increased their price objective on Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Allstate has an average rating of "Moderate Buy" and an average price target of $225.20.

Allstate Price Performance

NYSE:ALL traded up $1.20 on Monday, hitting $210.26. The company had a trading volume of 254,222 shares, compared to its average volume of 1,612,108. The firm has a 50 day moving average of $199.48 and a two-hundred day moving average of $195.75. The stock has a market capitalization of $55.68 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.01 and a beta of 0.32. 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 Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. The firm's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.13 earnings per share. On average, research analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $1.00 dividend. This is a boost from Allstate's previous quarterly dividend of $0.92. The ex-dividend date was Monday, March 10th. This represents a $4.00 annualized dividend and a dividend yield of 1.90%. Allstate's dividend payout ratio is presently 27.32%.

Allstate announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors 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.