NEOS Investment Management LLC Purchases 2,483 Shares of The Allstate Co. (NYSE:ALL)

NEOS Investment Management LLC raised its position in The Allstate Co. (NYSE:ALL) by 28.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,183 shares of the insurance provider’s stock after purchasing an additional 2,483 shares during the period. NEOS Investment Management LLC’s holdings in Allstate were worth $2,156,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of ALL. Vanguard Group Inc. increased its holdings in shares of Allstate by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider’s stock worth $6,291,783,000 after acquiring an additional 389,426 shares in the last quarter. State Street Corp raised its holdings in Allstate by 1.1% during the 3rd quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock worth $2,190,758,000 after buying an additional 126,922 shares during the period. Geode Capital Management LLC lifted its stake in Allstate by 1.2% in the third quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock valued at $1,178,164,000 after buying an additional 74,537 shares in the last quarter. GQG Partners LLC increased its position in shares of Allstate by 64.1% during the fourth quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider’s stock worth $832,181,000 after acquiring an additional 1,685,694 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Allstate by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,834,172 shares of the insurance provider’s stock valued at $353,610,000 after acquiring an additional 19,463 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $206.46 on Friday. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. The company has a market capitalization of $54.72 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.01 and a beta of 0.47. The company has a 50-day simple moving average of $195.81 and a 200 day simple moving average of $193.78. 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 announced its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping 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 predict that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate declared that its board has approved a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.00 dividend. The ex-dividend date is Monday, March 10th. This is an increase from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 1.94%. Allstate’s dividend payout ratio is 23.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays dropped their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company lifted 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 upped their price target on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Evercore ISI upgraded shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Finally, Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $219.80.

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.