Point72 Hong Kong Ltd Takes $1.19 Million Position in The Allstate Co. (NYSE:ALL)

Point72 Hong Kong Ltd acquired a new position in shares of The Allstate Co. (NYSE:ALL - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,165 shares of the insurance provider's stock, valued at approximately $1,188,000.

Other large investors also recently modified their holdings of the company. Bank of America Corp DE raised its holdings in Allstate by 157.9% during the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock worth $1,270,705,000 after purchasing an additional 4,035,629 shares in the last quarter. Norges Bank bought a new stake in shares of Allstate in the 4th quarter worth $344,354,000. GQG Partners LLC lifted its holdings in shares of Allstate by 64.1% in the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock valued at $832,181,000 after buying an additional 1,685,694 shares during the period. Strategic Financial Concepts LLC lifted its holdings in Allstate by 15,062.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider's stock valued at $215,757,000 after acquiring an additional 1,111,748 shares during the last quarter. Finally, Castle Hook Partners LP boosted its holdings in Allstate by 1,303.3% during the fourth quarter. Castle Hook Partners LP now owns 824,838 shares of the insurance provider's stock worth $159,021,000 after buying an additional 766,058 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Up 0.4%

NYSE ALL traded up $0.84 on Monday, reaching $209.90. The stock had a trading volume of 1,029,866 shares, compared to its average volume of 1,615,153. The company has a market capitalization of $55.59 billion, a price-to-earnings ratio of 12.35, a P/E/G 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 1 year low of $156.66 and a 1 year high of $212.91. The business has a 50 day moving average price of $199.48 and a 200 day moving average price of $195.75.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a return on equity of 28.20% and a net margin of 7.28%. The business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $16.41 billion. During the same quarter in the prior year, the company posted $5.13 earnings per share. The company's revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts forecast that The Allstate Co. will post 18.74 EPS for the current fiscal 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 paid a $1.00 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a yield of 1.91%. Allstate's dividend payout ratio (DPR) is presently 27.32%.

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

Analyst Upgrades and Downgrades

ALL has been the topic of several recent analyst reports. Evercore ISI boosted their price objective on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Morgan Stanley raised their price objective on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price objective on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their target price on Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $225.20.

Allstate Company 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.