QRG Capital Management Inc. Acquires 4,435 Shares of The Allstate Co. (NYSE:ALL)

QRG Capital Management Inc. increased its stake in The Allstate Co. (NYSE:ALL) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 53,151 shares of the insurance provider’s stock after purchasing an additional 4,435 shares during the quarter. QRG Capital Management Inc.’s holdings in Allstate were worth $10,247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. FSA Wealth Management LLC bought a new position in shares of Allstate in the third quarter worth about $26,000. Catalyst Capital Advisors LLC purchased a new stake in Allstate in the 3rd quarter worth approximately $29,000. Peoples Bank KS bought a new stake in Allstate during the 4th quarter worth approximately $49,000. Stonebridge Financial Group LLC bought a new stake in Allstate during the 4th quarter worth approximately $53,000. Finally, Golden State Wealth Management LLC purchased a new position in Allstate during the fourth quarter valued at approximately $57,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. UBS Group raised their target price on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group lifted their price target on Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group upped their price objective on Allstate from $209.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Stock Up 3.5 %

Shares of NYSE:ALL opened at $195.01 on Friday. The Allstate Co. has a 52-week low of $153.87 and a 52-week high of $209.88. The stock has a market cap of $51.68 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The business’s 50 day moving average is $190.15 and its 200 day moving average is $190.71. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts predict that The Allstate Co. will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.05%. This is a positive change from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. Allstate’s dividend payout ratio (DPR) is presently 21.66%.

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

Insider Buying and Selling

In other news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently 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.