Texas Permanent School Fund Corp Lowers Holdings in The Allstate Co. (NYSE:ALL)

Texas Permanent School Fund Corp trimmed its position in The Allstate Co. (NYSE:ALLFree Report) by 1.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 54,047 shares of the insurance provider’s stock after selling 1,071 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Allstate were worth $6,021,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S raised its position in Allstate by 8.7% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,748 shares of the insurance provider’s stock valued at $627,000 after acquiring an additional 460 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Allstate by 36.5% in the second quarter. First Horizon Advisors Inc. now owns 63,018 shares of the insurance provider’s stock valued at $6,872,000 after purchasing an additional 16,851 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Allstate in the second quarter valued at approximately $5,104,000. Markel Group Inc. boosted its stake in shares of Allstate by 10.1% in the third quarter. Markel Group Inc. now owns 141,550 shares of the insurance provider’s stock worth $15,770,000 after acquiring an additional 13,000 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. boosted its stake in shares of Allstate by 63.1% in the second quarter. Vestmark Advisory Solutions Inc. now owns 3,273 shares of the insurance provider’s stock worth $357,000 after acquiring an additional 1,266 shares during the last quarter. 77.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ALL shares. Jefferies Financial Group upgraded Allstate from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $180.00 in a research report on Tuesday, January 9th. HSBC initiated coverage on Allstate in a research report on Thursday, December 28th. They set a “hold” rating and a $145.00 price objective for the company. Raymond James upped their price objective on Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 22nd. UBS Group upped their target price on Allstate from $160.00 to $171.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Finally, Wells Fargo & Company upped their price objective on Allstate from $112.00 to $145.00 and gave the company an “underweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $156.88.

Get Our Latest Stock Report on ALL

Allstate Price Performance

NYSE ALL opened at $160.03 on Monday. The stock has a market capitalization of $41.88 billion, a P/E ratio of -129.06, a P/E/G ratio of 1.82 and a beta of 0.52. The Allstate Co. has a 1 year low of $100.57 and a 1 year high of $168.05. The business’s fifty day moving average is $147.72 and its two-hundred day moving average is $128.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.35 and a current ratio of 0.38.

Allstate (NYSE:ALLGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The business had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $12.69 billion. During the same period in the prior year, the business posted ($1.36) earnings per share. Allstate’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, research analysts forecast that The Allstate Co. will post 12.7 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Thursday, November 30th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Wednesday, November 29th. Allstate’s dividend payout ratio is currently -287.10%.

Insider Activity at Allstate

In other news, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $134.79, for a total transaction of $539,160.00. Following the completion of the sale, the chief accounting officer now owns 13,711 shares of the company’s stock, valued at $1,848,105.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Mark Q. Prindiville sold 10,951 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $135.43, for a total value of $1,483,093.93. Following the completion of the transaction, the executive vice president now directly owns 18,677 shares of the company’s stock, valued at approximately $2,529,426.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $134.79, for a total transaction of $539,160.00. Following the transaction, the chief accounting officer now owns 13,711 shares of the company’s stock, valued at $1,848,105.69. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

About Allstate

(Free Report)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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