Two Sigma Investments LP Has $26.42 Million Holdings in The Allstate Co. (NYSE:ALL)

Two Sigma Investments LP decreased its stake in The Allstate Co. (NYSE:ALL) by 67.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,050 shares of the insurance provider’s stock after selling 277,967 shares during the period. Two Sigma Investments LP’s holdings in Allstate were worth $26,422,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Allstate by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider’s stock worth $6,291,783,000 after purchasing an additional 389,426 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Allstate by 2.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider’s stock worth $1,799,681,000 after acquiring an additional 218,771 shares in the last quarter. Bank of America Corp DE grew its stake in Allstate by 157.9% during the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider’s stock valued at $1,270,705,000 after acquiring an additional 4,035,629 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Allstate by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider’s stock worth $1,236,060,000 after purchasing an additional 191,147 shares during the period. Finally, GQG Partners LLC raised its holdings in shares of Allstate by 64.1% in the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock valued at $832,181,000 after acquiring an additional 1,685,694 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Performance

NYSE:ALL opened at $205.26 on Thursday. The Allstate Co. has a fifty-two week low of $156.66 and a fifty-two week high of $212.91. The company has a fifty day moving average of $199.78 and a two-hundred day moving average of $196.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The stock has a market capitalization of $54.36 billion, a PE ratio of 12.08, a P/E/G ratio of 1.01 and a beta of 0.32.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). The business had revenue of $14.30 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business posted $5.13 earnings per share. As a group, research analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its Board of Directors has initiated a stock buyback 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 generally a sign that the company’s leadership believes its stock is undervalued.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Allstate’s previous quarterly dividend of $0.92. Allstate’s dividend payout ratio is 27.32%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Allstate from $217.00 to $222.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Raymond James reaffirmed a “strong-buy” rating and set a $250.00 price target (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $228.00 to $235.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Allstate in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Allstate has an average rating of “Moderate Buy” and a consensus 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.