Mackenzie Financial Corp Acquires 98,914 Shares of The Allstate Co. (NYSE:ALL)

Mackenzie Financial Corp lifted its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 77.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 227,400 shares of the insurance provider's stock after acquiring an additional 98,914 shares during the quarter. Mackenzie Financial Corp owned about 0.09% of Allstate worth $31,831,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Allstate by 11.5% in the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider's stock worth $3,595,266,000 after buying an additional 3,322,673 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Allstate by 123.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,540,295 shares of the insurance provider's stock worth $751,264,000 after buying an additional 3,064,105 shares during the last quarter. Cowa LLC acquired a new position in Allstate in the first quarter worth approximately $30,000. Norges Bank acquired a new position in Allstate in the fourth quarter worth approximately $190,865,000. Finally, Invesco Ltd. grew its position in Allstate by 46.6% in the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider's stock worth $459,225,000 after buying an additional 1,311,095 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Stock Performance

NYSE:ALL traded up $6.20 during trading hours on Thursday, reaching $169.12. The company had a trading volume of 2,068,344 shares, compared to its average volume of 1,685,792. The stock has a 50-day moving average of $163.44 and a two-hundred day moving average of $146.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The Allstate Co. has a one year low of $100.57 and a one year high of $174.57.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, topping the consensus estimate of $3.87 by $1.95. The company had revenue of $14.83 billion for the quarter, compared to analysts' expectations of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The business's revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.36) earnings per share. As a group, research analysts predict that The Allstate Co. will post 13.5 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Allstate's previous quarterly dividend of $0.89. Allstate's dividend payout ratio is -296.77%.

Analysts Set New Price Targets

ALL has been the topic of several recent research reports. BMO Capital Markets lifted their price target on shares of Allstate from $140.00 to $158.00 and gave the stock a "market perform" rating in a research report on Friday, January 19th. Evercore ISI boosted their target price on shares of Allstate from $166.00 to $173.00 and gave the company an "in-line" rating in a research note on Thursday, April 11th. TheStreet raised Allstate from a "c+" rating to a "b" rating in a research note on Wednesday, February 7th. UBS Group lifted their target price on Allstate from $171.00 to $185.00 and gave the company a "buy" rating in a research note on Monday, February 12th. Finally, HSBC raised Allstate from a "hold" rating to a "buy" rating and lifted their target price for the company from $158.00 to $190.00 in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $173.71.

Insider Buying and Selling at Allstate

In related news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John E. Dugenske sold 31,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now owns 63,731 shares of the company's stock, valued at $10,847,016.20. The disclosure for this sale can be found here. Insiders own 1.80% of the company's stock.

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.