The Allstate Co. (NYSE:ALL) Shares Purchased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lifted its stake in The Allstate Co. (NYSE:ALL) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 360,657 shares of the insurance provider’s stock after buying an additional 26,484 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Allstate were worth $69,500,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ALL. Vanguard Group Inc. raised its stake in shares of Allstate by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider’s stock valued at $6,291,783,000 after purchasing an additional 389,426 shares during the period. Geode Capital Management LLC boosted its position in Allstate by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider’s stock valued at $1,236,060,000 after buying an additional 191,147 shares during the last quarter. GQG Partners LLC grew its stake in shares of Allstate by 64.1% during the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock valued at $832,181,000 after acquiring an additional 1,685,694 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Allstate by 3.0% in the fourth quarter. Invesco Ltd. now owns 3,681,306 shares of the insurance provider’s stock worth $709,719,000 after acquiring an additional 106,730 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Allstate by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,834,172 shares of the insurance provider’s stock valued at $353,610,000 after purchasing an additional 19,463 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the business’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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $194.61 on Friday. The business has a 50 day simple moving average of $197.17 and a 200 day simple moving average of $194.31. 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 firm has a market capitalization of $51.58 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.01 and a beta of 0.36. The Allstate Co. has a 12-month low of $156.66 and a 12-month high of $212.91.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating analysts’ consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. On average, equities research analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

Allstate declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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 dividend of $1.00 per share. This is a boost from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 2.06%. Allstate’s dividend payout ratio (DPR) is presently 23.54%.

Analyst Ratings Changes

ALL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised 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. Wells Fargo & Company upped their target price on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods cut their price objective on Allstate from $240.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Barclays lowered their price target on Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a report on Friday, April 11th. Finally, Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $219.27.

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.