Fiduciary Trust Co Raises Stock Position in The Allstate Co. (NYSE:ALL)

Fiduciary Trust Co grew its holdings in The Allstate Co. (NYSE:ALL) by 12.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,438 shares of the insurance provider’s stock after purchasing an additional 1,850 shares during the quarter. Fiduciary Trust Co’s holdings in Allstate were worth $3,169,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ameritas Advisory Services LLC grew its stake in shares of Allstate by 117.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 4,896 shares of the insurance provider’s stock worth $944,000 after acquiring an additional 2,643 shares in the last quarter. Hennessy Advisors Inc. increased its holdings in Allstate by 6.9% during the 4th 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 during the period. Los Angeles Capital Management LLC raised its position in Allstate by 10.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider’s stock valued at $98,065,000 after purchasing an additional 48,382 shares in the last quarter. Artemis Investment Management LLP boosted its stake in shares of Allstate by 33.3% in the 4th quarter. Artemis Investment Management LLP now owns 401,542 shares of the insurance provider’s stock valued at $77,413,000 after buying an additional 100,311 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Allstate by 56.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 186,792 shares of the insurance provider’s stock worth $36,012,000 after buying an additional 67,032 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ALL shares. Barclays lowered their price target on shares of Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a report on Friday, April 11th. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Wells Fargo & Company dropped their target price on Allstate from $200.00 to $197.00 and set an “equal weight” rating on the stock in a report on Tuesday. Evercore ISI lifted their price target on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods increased their price objective on Allstate from $228.00 to $235.00 and gave the company an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $225.20.

Insider Activity

In other news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 18,115 shares in the company, valued at $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

Allstate Stock Down 0.0 %

ALL stock opened at $202.57 on Friday. The company has a market cap of $53.64 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32. The company has a fifty day moving average price of $199.06 and a 200 day moving average price of $195.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $16.41 billion. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Allstate’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $5.13 earnings per share. Sell-side analysts expect that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a $1.00 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Monday, March 10th. Allstate’s dividend payout ratio (DPR) is 27.32%.

Allstate declared that its board has initiated a stock buyback program on Wednesday, February 26th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

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.