State of Wyoming Acquires 2,751 Shares of The Allstate Co. (NYSE:ALL)

State of Wyoming increased its holdings in shares of The Allstate Co. (NYSE:ALL) by 233.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,930 shares of the insurance provider’s stock after purchasing an additional 2,751 shares during the quarter. State of Wyoming’s holdings in Allstate were worth $758,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Stonebrook Private Inc. increased its stake in Allstate by 3.9% during the 4th quarter. Stonebrook Private Inc. now owns 4,223 shares of the insurance provider’s stock worth $814,000 after purchasing an additional 157 shares in the last quarter. Tang Capital Management LLC boosted its position in Allstate by 322.1% during the 4th quarter. Tang Capital Management LLC now owns 5,319 shares of the insurance provider’s stock worth $1,025,000 after acquiring an additional 4,059 shares during the last quarter. Toronto Dominion Bank boosted its position in Allstate by 8.2% during the 4th quarter. Toronto Dominion Bank now owns 141,580 shares of the insurance provider’s stock worth $27,295,000 after acquiring an additional 10,682 shares during the last quarter. Shay Capital LLC boosted its position in Allstate by 87.5% during the 4th quarter. Shay Capital LLC now owns 15,000 shares of the insurance provider’s stock worth $2,892,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Shell Asset Management Co. boosted its position in Allstate by 49.3% during the 4th quarter. Shell Asset Management Co. now owns 26,655 shares of the insurance provider’s stock worth $5,139,000 after acquiring an additional 8,799 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Trading Up 1.9%

Shares of Allstate stock opened at $209.13 on Monday. The business has a fifty day simple moving average of $199.48 and a two-hundred day simple moving average of $195.75. The Allstate Co. has a 1 year low of $156.66 and a 1 year high of $212.91. The company has a market capitalization of $55.38 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 1.01 and a beta of 0.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40.

Allstate (NYSE:ALL) last announced its quarterly earnings results 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). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same period in the prior year, the business earned $5.13 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts forecast that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a dividend of $1.00 per share. This is a boost from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date was Monday, March 10th. This represents a $4.00 annualized dividend and a yield of 1.91%. Allstate’s dividend payout ratio (DPR) is presently 27.32%.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley upped their price target on Allstate from $225.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Evercore ISI upped their price target on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Barclays reduced their price target on Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. increased their price objective on Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a report on Tuesday, April 8th. Finally, Wells Fargo & Company cut their price objective on Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.20.

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.