DnB Asset Management AS Raises Holdings in The Allstate Co. (NYSE:ALL)

DnB Asset Management AS boosted its stake in The Allstate Co. (NYSE:ALL) by 86.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 94,907 shares of the insurance provider’s stock after buying an additional 44,004 shares during the quarter. DnB Asset Management AS’s holdings in Allstate were worth $18,297,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. United Bank acquired a new stake in shares of Allstate during the third quarter valued at $209,000. The Manufacturers Life Insurance Company raised its position in shares of Allstate by 32.7% in the third quarter. The Manufacturers Life Insurance Company now owns 269,708 shares of the insurance provider’s stock valued at $51,150,000 after buying an additional 66,483 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of Allstate by 61.5% during the third quarter. D.A. Davidson & CO. now owns 23,584 shares of the insurance provider’s stock valued at $4,473,000 after buying an additional 8,983 shares during the period. FMR LLC grew its stake in Allstate by 11.8% in the 3rd quarter. FMR LLC now owns 933,352 shares of the insurance provider’s stock worth $177,010,000 after acquiring an additional 98,179 shares during the period. Finally, Avestar Capital LLC acquired a new position in Allstate in the 3rd quarter valued at $202,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Trading Down 1.4 %

ALL opened at $206.46 on Friday. The firm’s 50 day moving average is $195.81 and its 200-day moving average is $193.78. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $212.91. 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 $54.72 billion, a P/E ratio of 12.15, a P/E/G ratio of 1.01 and a beta of 0.47.

Allstate (NYSE:ALL) last issued 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%. Analysts expect that The Allstate Co. will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.00 per share. The ex-dividend date is Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.94%. Allstate’s payout ratio is currently 23.54%.

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

Wall Street Analyst Weigh In

ALL has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Barclays decreased their target price on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research report on Monday, January 6th. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Finally, Wells Fargo & Company increased their price target on shares of Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.80.

Insider Activity

In related news, CFO Jesse E. Merten sold 40,102 shares of the company’s stock in a transaction on Monday, February 10th. The shares were 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 directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

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.