Retirement Systems of Alabama Cuts Position in The Allstate Co. (NYSE:ALL)

Retirement Systems of Alabama trimmed its position in shares of The Allstate Co. (NYSE:ALL) by 2.5% during the 4th quarter, Holdings Channel reports. The fund owned 57,675 shares of the insurance provider’s stock after selling 1,470 shares during the period. Retirement Systems of Alabama’s holdings in Allstate were worth $8,073,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Allstate during the third quarter valued at $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Allstate in the 4th quarter worth about $36,000. Venturi Wealth Management LLC raised its position in shares of Allstate by 152.7% during the 4th quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after buying an additional 168 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Allstate in the 4th quarter valued at about $43,000. Finally, First Command Advisory Services Inc. purchased a new position in Allstate in the third quarter worth about $48,000. 76.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares in the company, valued at approximately $1,712,069.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the sale, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on Allstate from $140.00 to $158.00 and gave the company a “market perform” rating in a research note on Friday, January 19th. Roth Mkm raised their price target on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Wells Fargo & Company boosted their price objective on shares of Allstate from $145.00 to $146.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. raised their target price on shares of Allstate from $185.00 to $193.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, HSBC upgraded shares of Allstate from a “hold” rating to a “buy” rating and upped their price target for the company from $158.00 to $190.00 in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.18.

Allstate Stock Performance

Shares of ALL stock opened at $168.18 on Friday. The business has a fifty day moving average of $165.88 and a 200 day moving average of $150.65. The Allstate Co. has a 1 year low of $100.57 and a 1 year high of $177.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $44.24 billion, a price-to-earnings ratio of 37.13, a price-to-earnings-growth ratio of 0.41 and a beta of 0.51.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $1.02. The firm had revenue of $15.26 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Allstate had a return on equity of 15.14% and a net margin of 2.31%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the business posted ($1.30) earnings per share. As a group, research analysts expect that The Allstate Co. will post 13.83 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.19%. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. Allstate’s payout ratio is presently 81.24%.

About Allstate

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.