Virtus ETF Advisers LLC Makes New $1.17 Million Investment in The Allstate Co. (NYSE:ALL)

Virtus ETF Advisers LLC bought a new position in shares of The Allstate Co. (NYSE:ALL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,085 shares of the insurance provider's stock, valued at approximately $1,173,000.

Several other large investors have also recently bought and sold shares of ALL. JPMorgan Chase & Co. increased its holdings in shares of Allstate by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider's stock valued at $109,605,000 after acquiring an additional 28,584 shares during the last quarter. Ameritas Advisory Services LLC increased its stake in Allstate by 117.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider's stock valued at $944,000 after purchasing an additional 2,643 shares during the last quarter. Hennessy Advisors Inc. raised its holdings in Allstate by 6.9% during the fourth quarter. Hennessy Advisors Inc. now owns 58,600 shares of the insurance provider's stock worth $11,297,000 after purchasing an additional 3,800 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Allstate by 10.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider's stock worth $98,065,000 after purchasing an additional 48,382 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its position in shares of Allstate by 33.3% during the 4th quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider's stock worth $77,413,000 after buying an additional 100,311 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Price Performance

Shares of NYSE ALL traded down $0.55 during midday trading on Wednesday, hitting $198.24. The company had a trading volume of 2,306,749 shares, compared to its average volume of 1,884,490. The Allstate Co. has a twelve month low of $191.34 and a twelve month high of $199.31. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $52.56 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.01 and a beta of 0.36. The business has a 50-day simple moving average of $197.89 and a two-hundred day simple moving average of $194.77.

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 the consensus estimate of $3.98 by ($0.45). Allstate had a return on equity of 28.20% and a net margin of 7.28%. Equities research 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. Shareholders of record on Monday, March 10th were given a dividend of $1.00 per share. The ex-dividend date was Monday, March 10th. This represents a $4.00 dividend on an annualized basis and a yield of 2.02%. This is a boost from Allstate's previous quarterly dividend of $0.92. Allstate's payout ratio is presently 23.54%.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ALL shares. Barclays cut their price target on shares of Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods reduced their target price on Allstate from $240.00 to $228.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. StockNews.com downgraded Allstate from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Wells Fargo & Company lifted their price target on Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 14th. Finally, Argus raised Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Allstate currently has an average rating of "Moderate Buy" and an average price target of $219.27.

Insider Buying and Selling at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was 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 of the company's stock, valued at approximately $3,378,990.95. This represents a 68.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.