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

DnB Asset Management AS lifted its stake in shares of The Allstate Co. (NYSE:ALL) by 86.4% in the fourth quarter, according to the company in its most recent disclosure 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 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. VSM Wealth Advisory LLC purchased a new stake in shares of Allstate in the 4th quarter valued at approximately $25,000. FSA Wealth Management LLC purchased a new position in Allstate in the third quarter valued at $26,000. Twin Tree Management LP acquired a new stake in Allstate in the fourth quarter valued at $27,000. Vision Financial Markets LLC purchased a new stake in Allstate during the 4th quarter worth about $29,000. Finally, Hopwood Financial Services Inc. purchased a new position in shares of Allstate in the 4th quarter valued at about $29,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Trading Down 1.4 %

NYSE ALL opened at $206.46 on Friday. 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 stock 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. The Allstate Co. has a 52-week low of $156.66 and a 52-week high of $212.91. The firm has a 50-day moving average price of $195.81 and a 200 day moving average price of $193.78.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating the consensus estimate of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. Equities research analysts expect 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. Stockholders of record on Monday, March 10th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio (DPR) is currently 23.54%.

Allstate announced that its board has approved a share buyback 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 purchase up to 3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ALL. Barclays decreased their target price on 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 upped their target price on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Wells Fargo & Company lifted 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. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a research note on Wednesday, January 8th. Finally, Argus raised Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $219.80.

Insider Buying and Selling

In other news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 18,115 shares in the company, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by insiders.

Allstate Company 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.