Public Employees Retirement Association of Colorado Reduces Position in The Allstate Co. (NYSE:ALL)

Public Employees Retirement Association of Colorado lessened its holdings in shares of The Allstate Co. (NYSE:ALL) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,520 shares of the insurance provider’s stock after selling 1,952 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Allstate were worth $6,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of ALL. Norges Bank purchased a new position in shares of Allstate during the 4th quarter worth $212,771,000. Palestra Capital Management LLC purchased a new position in shares of Allstate during the 4th quarter valued at $83,561,000. Balyasny Asset Management L.P. purchased a new position in shares of Allstate during the 4th quarter valued at $81,571,000. Artemis Investment Management LLP purchased a new position in shares of Allstate during the 1st quarter valued at $95,764,000. Finally, Mizuho Markets Americas LLC purchased a new stake in Allstate in the 4th quarter worth $52,042,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

ALL stock traded up $1.51 during midday trading on Monday, hitting $170.68. 672,686 shares of the stock traded hands, compared to its average volume of 1,565,643. The firm has a market cap of $45.05 billion, a P/E ratio of 37.31, a PEG ratio of 1.77 and a beta of 0.48. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The stock’s fifty day simple moving average is $163.94 and its 200-day simple moving average is $163.55. The Allstate Co. has a 1-year low of $104.29 and a 1-year high of $179.93.

Allstate (NYSE:ALL) last released its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 EPS for the quarter, beating the consensus estimate of $4.11 by $1.02. The company had revenue of $15.26 billion for the quarter, compared to analyst estimates of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned ($1.30) earnings per share. On average, analysts expect that The Allstate Co. will post 13.64 earnings per share for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s payout ratio is 81.24%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Evercore ISI upped their price target on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. upped their price target on shares of Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Wells Fargo & Company increased their target price on shares of Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research report on Friday, May 10th. Finally, BMO Capital Markets raised shares of Allstate from a “market perform” rating to an “outperform” rating and increased their target price for the company from $190.00 to $191.00 in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $178.06.

Insider Buying and Selling at Allstate

In other Allstate news, insider Suren Gupta sold 45,775 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

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.