MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 1,206 Shares of The Allstate Co. (NYSE:ALL)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of The Allstate Co. (NYSE:ALL) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,137 shares of the insurance provider’s stock after purchasing an additional 1,206 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Allstate were worth $5,039,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. VSM Wealth Advisory LLC acquired a new stake in Allstate in the 4th quarter valued at about $25,000. Twin Tree Management LP bought a new position in shares of Allstate during the 4th quarter worth approximately $27,000. Vision Financial Markets LLC acquired a new position in shares of Allstate during the 4th quarter worth approximately $29,000. Hopwood Financial Services Inc. bought a new stake in Allstate in the 4th quarter valued at $29,000. Finally, Kapitalo Investimentos Ltda bought a new position in Allstate during the fourth quarter worth $29,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

Shares of NYSE:ALL opened at $209.13 on Monday. The firm has a 50 day moving average of $199.48 and a 200-day moving average of $195.75. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $55.38 billion, a PE ratio of 12.31, a PEG ratio of 1.01 and a beta of 0.32.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.45). The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.13 earnings per share. On average, equities research analysts predict that The Allstate Co. will post 18.74 EPS for the current fiscal year.

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

Allstate Increases Dividend

The firm also recently disclosed 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. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Monday, March 10th. Allstate’s dividend payout ratio is currently 27.32%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ALL shares. Morgan Stanley raised their target price on shares of Allstate from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Argus raised Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Evercore ISI lifted their price target on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Keefe, Bruyette & Woods boosted their price target on Allstate from $228.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Finally, Barclays lowered their price objective on Allstate from $183.00 to $172.00 and set an “underweight” rating on the stock in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.