The Allstate Co. (NYSE:ALL) Holdings Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in The Allstate Co. (NYSE:ALL) by 30.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 755,015 shares of the insurance provider’s stock after purchasing an additional 177,081 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.29% of Allstate worth $145,560,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. 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 shares of Allstate during the third quarter valued at $26,000. Twin Tree Management LP acquired a new position in Allstate during the fourth quarter valued at $27,000. Vision Financial Markets LLC purchased a new stake in Allstate in the 4th quarter worth about $29,000. Finally, Hopwood Financial Services Inc. purchased a new position in Allstate during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays decreased their price target on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a research note 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. StockNews.com cut Allstate from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Wells Fargo & Company increased their price objective on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $219.80.

Allstate Trading Up 0.2 %

Allstate stock opened at $207.45 on Wednesday. The business’s 50-day simple moving average is $196.53 and its 200-day simple moving average is $194.20. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. The firm has a market capitalization of $54.98 billion, a PE ratio of 12.21, a PEG ratio of 1.01 and a beta of 0.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share 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 forecast that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.93%. This is a positive change from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Monday, March 10th. Allstate’s dividend payout ratio (DPR) is currently 23.54%.

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

Insider Activity

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the sale, the chief financial officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.

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.