denkapparat Operations GmbH Takes $481,000 Position in The Allstate Co. (NYSE:ALL)

denkapparat Operations GmbH bought a new stake in shares of The Allstate Co. (NYSE:ALL) in the 4th quarter, Holdings Channel.com reports. The fund bought 2,496 shares of the insurance provider’s stock, valued at approximately $481,000.

A number of other hedge funds have also modified their holdings of the business. Apella Capital LLC lifted its stake in shares of Allstate by 1.9% in the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock valued at $623,000 after purchasing an additional 60 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Allstate by 2.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock worth $571,000 after purchasing an additional 62 shares during the period. Mather Group LLC. boosted its holdings in shares of Allstate by 1.7% in the 4th quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock valued at $697,000 after buying an additional 62 shares during the period. Angeles Wealth Management LLC raised its stake in Allstate by 4.6% during the fourth quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock worth $270,000 after acquiring an additional 62 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Allstate by 4.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,505 shares of the insurance provider’s stock valued at $290,000 after acquiring an additional 63 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ALL shares. Barclays lowered their price objective 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 boosted 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 Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Argus raised Allstate from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company raised their price target on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

Allstate Stock Up 0.0 %

NYSE:ALL opened at $209.38 on Friday. The business’s fifty day moving average price is $195.46 and its 200 day moving average price is $193.65. The firm has a market capitalization of $55.49 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.01 and a beta of 0.47. The Allstate Co. has a 1-year low of $156.66 and a 1-year 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.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating analysts’ consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. On average, sell-side analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.91%. This is an increase from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Monday, March 10th. Allstate’s payout ratio is presently 23.54%.

Allstate announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction dated 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 owns 18,115 shares in the company, valued at $3,378,990.95. This trade represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

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.