The Allstate Co. (NYSE:ALL) Shares Sold by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd decreased its position in shares of The Allstate Co. (NYSE:ALL) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,386 shares of the insurance provider’s stock after selling 750 shares during the quarter. JARISLOWSKY FRASER Ltd’s holdings in Allstate were worth $2,195,000 as of its most recent filing with the SEC.

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

Allstate Price Performance

NYSE ALL opened at $202.57 on Monday. The stock’s 50-day moving average price is $199.06 and its two-hundred day moving average price is $195.19. 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 company has a market cap of $53.64 billion, a PE ratio of 11.92, a PEG ratio of 1.01 and a beta of 0.32. The Allstate Co. has a 1 year low of $156.66 and a 1 year high of $212.91.

Allstate (NYSE:ALL) last posted 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). The company had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. Allstate’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.13 EPS. On average, analysts predict that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.97%. This is a positive change from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Monday, March 10th. Allstate’s dividend payout ratio is 27.32%.

Allstate announced that its board has initiated a share repurchase 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 a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

ALL has been the subject of several research analyst reports. Barclays reduced their price objective 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. Wells Fargo & Company reduced their price objective on shares of Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Raymond James reaffirmed a “strong-buy” rating and issued a $250.00 price objective (up previously from $240.00) on shares of Allstate in a report on Monday, May 5th. Morgan Stanley boosted their price target on shares of Allstate from $225.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Finally, Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus price target of $225.20.

About Allstate

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.