The Allstate Co. (NYSE:ALL) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its holdings in The Allstate Co. (NYSE:ALL - Free Report) by 18.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,091 shares of the insurance provider's stock after acquiring an additional 4,082 shares during the period. NewEdge Advisors LLC's holdings in Allstate were worth $5,030,000 at the end of the most recent reporting period.

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

Allstate Price Performance

Shares of ALL stock traded down $2.29 during mid-day trading on Friday, reaching $192.58. The stock had a trading volume of 270,289 shares, compared to its average volume of 1,931,580. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $212.91. 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 business has a 50-day simple moving average of $197.54 and a 200 day simple moving average of $194.49. The company has a market cap of $51.04 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 1.01 and a beta of 0.36.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Allstate's previous quarterly dividend of $0.92. Allstate's dividend payout ratio is 23.54%.

Allstate declared that its board has initiated a share repurchase plan on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

ALL has been the topic of several research analyst reports. StockNews.com downgraded Allstate from a "buy" rating to a "hold" rating in a report on Friday, April 18th. JPMorgan Chase & Co. increased their price target 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. Evercore ISI upgraded shares of Allstate from an "in-line" rating to an "outperform" rating in a report on Wednesday, January 8th. Wells Fargo & Company raised their price target on shares of Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 14th. Finally, Argus upgraded Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $219.27.

Insider Activity at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction on Monday, February 10th. The shares were sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the sale, the chief financial officer now owns 18,115 shares of the company's stock, valued at $3,378,990.95. The trade was a 68.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.

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.