Glenview Trust co Has $26.88 Million Holdings in The Allstate Co. (NYSE:ALL)

Glenview Trust co cut its stake in shares of The Allstate Co. (NYSE:ALL) by 0.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 139,404 shares of the insurance provider’s stock after selling 891 shares during the quarter. Glenview Trust co’s holdings in Allstate were worth $26,876,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FSA Wealth Management LLC bought a new position in shares of Allstate during the third quarter valued at $26,000. Vision Financial Markets LLC acquired a new position in shares of Allstate in the fourth quarter worth approximately $29,000. Hopwood Financial Services Inc. bought a new stake in Allstate in the fourth quarter valued at approximately $29,000. Peoples Bank KS bought a new position in Allstate during the 4th quarter worth approximately $49,000. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Allstate in the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Transactions at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the company’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 transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. This represents a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ALL shares. Barclays decreased their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Evercore ISI raised Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. Wells Fargo & Company upped their target price on 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 lifted their target price on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Finally, Argus upgraded Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Allstate Trading Up 2.8 %

ALL opened at $207.68 on Friday. The firm has a market capitalization of $55.04 billion, a PE ratio of 12.22, a P/E/G ratio of 1.01 and a beta of 0.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The Allstate Co. has a fifty-two week low of $156.66 and a fifty-two week high of $209.88. The company’s 50-day moving average is $191.72 and its 200 day moving average is $192.43.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, topping 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%. As a group, research analysts predict 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 share repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows 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 board of directors believes its shares are undervalued.

Allstate Increases Dividend

The company 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 1.93%. This is an increase from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, March 10th. Allstate’s payout ratio is currently 23.54%.

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.