Commerce Bank Has $10.19 Million Stock Position in The Allstate Co. (NYSE:ALL)

Commerce Bank cut its holdings in The Allstate Co. (NYSE:ALL) by 2.0% in the fourth quarter, HoldingsChannel reports. The firm owned 52,853 shares of the insurance provider’s stock after selling 1,072 shares during the period. Commerce Bank’s holdings in Allstate were worth $10,190,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ALL. JPMorgan Chase & Co. increased its holdings in shares of Allstate by 5.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 577,934 shares of the insurance provider’s stock valued at $109,605,000 after acquiring an additional 28,584 shares during the last quarter. Ameritas Advisory Services LLC raised its position 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 valued at $944,000 after purchasing an additional 2,643 shares during the period. Hennessy Advisors Inc. boosted its holdings in shares of 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 buying an additional 3,800 shares during the period. Los Angeles Capital Management LLC grew its stake 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 buying an additional 48,382 shares during the last quarter. Finally, Artemis Investment Management LLP lifted its position in Allstate by 33.3% during the 4th 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 during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Up 0.2 %

Shares of NYSE ALL opened at $194.61 on Friday. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $212.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The business has a fifty day moving average of $197.27 and a two-hundred day moving average of $194.34. The stock has a market cap of $51.58 billion, a PE ratio of 11.45, a PEG ratio of 1.01 and a beta of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. As a group, equities research analysts expect that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $1.00 per share. The ex-dividend date was Monday, March 10th. This is a positive change from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a yield of 2.06%. Allstate’s dividend payout ratio is 23.54%.

Allstate announced that its board has approved a stock buyback plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ALL. Keefe, Bruyette & Woods dropped 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. Wells Fargo & Company increased their price objective on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. StockNews.com cut shares of Allstate from a “buy” rating to a “hold” rating in a research note on Friday. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their target price on Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $219.27.

Insider Activity at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the 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 sale, the chief financial officer now owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This represents a 68.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

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.