Arrowstreet Capital Limited Partnership Has $74.70 Million Stake in The Allstate Co. (NYSE:ALL)

Arrowstreet Capital Limited Partnership decreased its position in The Allstate Co. (NYSE:ALL) by 32.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 387,491 shares of the insurance provider’s stock after selling 189,501 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.15% of Allstate worth $74,704,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

ALL has been the subject of a number of research analyst reports. Barclays reduced their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Keefe, Bruyette & Woods increased their price objective on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Wells Fargo & Company boosted their target price on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Finally, StockNews.com lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $219.80.

Insider Transactions at Allstate

In related news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Allstate Price Performance

Shares of NYSE ALL opened at $207.14 on Tuesday. The Allstate Co. has a twelve month low of $156.66 and a twelve month high of $212.91. The company has a market cap of $54.90 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The business’s 50 day moving average price is $196.18 and its two-hundred day moving average price is $194.06. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, topping 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, 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 will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.00 dividend. This is a boost from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, March 10th. Allstate’s dividend payout ratio is currently 23.54%.

Allstate announced that its board has authorized a share buyback program on Wednesday, February 26th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the insurance provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.