National Pension Service Boosts Stock Holdings in The Allstate Co. (NYSE:ALL)

National Pension Service grew its position in shares of The Allstate Co. (NYSE:ALL – Get Rating) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 557,001 shares of the insurance provider’s stock after acquiring an additional 13,863 shares during the quarter. National Pension Service owned 0.21% of Allstate worth $70,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Allstate by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 25,700,343 shares of the insurance provider’s stock worth $3,200,463,000 after purchasing an additional 275,168 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Allstate by 1.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,028,442 shares of the insurance provider’s stock worth $626,192,000 after purchasing an additional 49,793 shares during the period. Legal & General Group Plc raised its stake in shares of Allstate by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 2,897,864 shares of the insurance provider’s stock worth $367,253,000 after purchasing an additional 22,466 shares during the period. Boston Partners raised its stake in shares of Allstate by 384.6% during the 3rd quarter. Boston Partners now owns 2,707,454 shares of the insurance provider’s stock worth $337,094,000 after purchasing an additional 2,148,764 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Allstate by 41.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,572,349 shares of the insurance provider’s stock worth $320,333,000 after purchasing an additional 759,114 shares during the period. 77.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ALL shares. Citigroup lowered their target price on Allstate from $160.00 to $150.00 in a research note on Thursday, January 19th. The Goldman Sachs Group boosted their price objective on Allstate from $146.00 to $166.00 and gave the company a “buy” rating in a research note on Monday, January 9th. Wells Fargo & Company lowered their price objective on Allstate from $105.00 to $104.00 and set an “underweight” rating on the stock in a research note on Friday, February 3rd. Evercore ISI lowered their price objective on Allstate from $144.00 to $138.00 and set an “in-line” rating on the stock in a research note on Thursday, February 2nd. Finally, TheStreet cut Allstate from a “b-” rating to a “c+” rating in a research note on Wednesday, March 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.31.

Allstate Stock Down 3.3 %

Shares of NYSE ALL opened at $110.61 on Thursday. The Allstate Co. has a 12 month low of $107.86 and a 12 month high of $144.46. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $29.13 billion, a price-to-earnings ratio of -20.79, a PEG ratio of 2.47 and a beta of 0.59. The business has a 50-day moving average of $130.69 and a 200-day moving average of $129.99.

Allstate (NYSE:ALL – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The insurance provider reported ($1.36) EPS for the quarter, topping the consensus estimate of ($1.37) by $0.01. Allstate had a negative return on equity of 1.04% and a negative net margin of 2.55%. The company had revenue of $13.55 billion during the quarter, compared to analyst estimates of $13.45 billion. During the same quarter in the previous year, the firm earned $2.75 earnings per share. Allstate’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts expect that The Allstate Co. will post 6.83 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Tuesday, February 28th will be issued a dividend of $0.89 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.85. The ex-dividend date is Monday, February 27th. This represents a $3.56 annualized dividend and a dividend yield of 3.22%. Allstate’s payout ratio is presently -66.92%.

Insider Transactions at Allstate

In other Allstate news, CFO Jesse E. Merten sold 29,451 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $134.18, for a total value of $3,951,735.18. Following the completion of the sale, the chief financial officer now owns 16,668 shares of the company’s stock, valued at $2,236,512.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.77% of the stock is owned by insiders.

About Allstate

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The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property Liability and Corporate and Other.