California State Teachers Retirement System Trims Stake in The Allstate Co. (NYSE:ALL)

California State Teachers Retirement System lowered its position in The Allstate Co. (NYSE:ALL – Get Rating) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 460,106 shares of the insurance provider’s stock after selling 10,407 shares during the period. California State Teachers Retirement System’s holdings in Allstate were worth $57,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALL. Vanguard Group Inc. lifted its position in Allstate by 1.1% during the third quarter. Vanguard Group Inc. now owns 25,700,343 shares of the insurance provider’s stock valued at $3,200,463,000 after buying an additional 275,168 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in 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 valued at $626,192,000 after acquiring an additional 49,793 shares during the period. Legal & General Group Plc boosted its stake in Allstate by 0.8% during the second quarter. Legal & General Group Plc now owns 2,897,864 shares of the insurance provider’s stock worth $367,253,000 after acquiring an additional 22,466 shares in the last quarter. Boston Partners grew its holdings in Allstate by 384.6% in the third 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 increased its stake in shares of Allstate by 41.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,572,349 shares of the insurance provider’s stock valued at $320,333,000 after purchasing an additional 759,114 shares in the last quarter. Hedge funds and other institutional investors own 77.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ALL shares. TheStreet downgraded Allstate from a “b-” rating to a “c+” rating in a research note on Wednesday, March 8th. Barclays lowered their price target on Allstate from $144.00 to $126.00 and set an “equal weight” rating for the company in a research report on Friday, January 20th. Piper Sandler raised their price objective on shares of Allstate from $147.00 to $153.00 and gave the company an “overweight” rating in a research note on Tuesday, January 10th. UBS Group upped their target price on shares of Allstate from $150.00 to $160.00 in a research note on Tuesday, January 10th. Finally, The Goldman Sachs Group raised their price target on shares of Allstate from $146.00 to $166.00 and gave the company a “buy” rating in a research report on Monday, January 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.31.

Allstate Stock Performance

ALL stock opened at $112.10 on Friday. The company has a market cap of $29.52 billion, a P/E ratio of -21.07, a price-to-earnings-growth ratio of 2.39 and a beta of 0.59. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.38 and a quick ratio of 0.38. The Allstate Co. has a 1 year low of $107.86 and a 1 year high of $144.46. The stock’s fifty day moving average price is $130.14 and its 200-day moving average price is $129.87.

Allstate (NYSE:ALL – Get Rating) last announced its earnings results on Thursday, February 2nd. The insurance provider reported ($1.36) earnings per share (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 business had revenue of $13.55 billion for the quarter, compared to analysts’ expectations of $13.45 billion. During the same period last year, the firm posted $2.75 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts forecast that The Allstate Co. will post 6.83 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Tuesday, February 28th will be issued a dividend of $0.89 per share. This is a boost from Allstate’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Monday, February 27th. Allstate’s dividend payout ratio is currently -66.92%.

Insiders Place Their Bets

In other news, CFO Jesse E. Merten sold 29,451 shares of the company’s stock in a transaction 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 directly owns 16,668 shares in the company, valued at approximately $2,236,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.77% of the company’s stock.

Allstate Company Profile

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The Allstate Corp. engages in the property and casualty insurance business and the provision of protection solutions. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property-Liability, and Corporate and Other. The Allstate Protection segment offers private passenger auto, homeowners, other personal lines, and commercial insurance marketed under the Allstate, National General, and Answer Financial brand names.