Retirement Systems of Alabama Trims Stock Holdings in The Allstate Co. (NYSE:ALL)

Retirement Systems of Alabama decreased its holdings in shares of The Allstate Co. (NYSE:ALL) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,675 shares of the insurance provider’s stock after selling 1,470 shares during the quarter. Retirement Systems of Alabama’s holdings in Allstate were worth $8,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Allstate during the 3rd quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Allstate in the fourth quarter worth about $36,000. Venturi Wealth Management LLC boosted its position in shares of Allstate by 152.7% in the fourth quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 168 shares during the period. Bruce G. Allen Investments LLC purchased a new position in Allstate during the fourth quarter valued at approximately $43,000. Finally, First Command Advisory Services Inc. bought a new stake in Allstate during the 3rd quarter worth approximately $48,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Roth Mkm raised their price target on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 8th. Evercore ISI lifted their price objective on Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. UBS Group upped their target price on Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Raymond James raised their price target on Allstate from $155.00 to $180.00 and gave the company a “strong-buy” rating in a report on Monday, January 22nd. Finally, TD Cowen started coverage on shares of Allstate in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.18.

Allstate Price Performance

Shares of NYSE:ALL opened at $168.18 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.51. The stock has a market cap of $44.24 billion, a PE ratio of 37.13, a PEG ratio of 0.41 and a beta of 0.51. The company’s fifty day moving average is $165.88 and its 200 day moving average is $150.65. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $177.37.

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

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a dividend of $0.92 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Friday, March 1st. Allstate’s dividend payout ratio is currently 81.24%.

Insider Transactions at Allstate

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

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.