Kentucky Retirement Systems Insurance Trust Fund Trims Stock Position in The Allstate Co. (NYSE:ALL)

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in The Allstate Co. (NYSE:ALL) by 8.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,818 shares of the insurance provider’s stock after selling 694 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Allstate were worth $1,483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in Allstate in the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC purchased a new stake in Allstate during the third quarter worth $29,000. Versant Capital Management Inc increased its holdings in Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Allstate in the second quarter worth about $38,000. Finally, MCF Advisors LLC boosted its stake in shares of Allstate by 33.9% during the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 84 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Up 0.6 %

Shares of ALL opened at $196.88 on Friday. The Allstate Co. has a 52-week low of $131.65 and a 52-week high of $201.00. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $190.01 and a two-hundred day simple moving average of $176.77. The company has a market capitalization of $52.13 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.75 and a beta of 0.48.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. The firm had revenue of $16.63 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. Allstate’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business earned $0.81 earnings per share. As a group, equities analysts forecast that The Allstate Co. will post 16.07 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.87%. Allstate’s payout ratio is 23.83%.

Insiders Place Their Bets

In other Allstate news, EVP Robert Toohey sold 16,682 shares of Allstate stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the sale, the executive vice president now directly owns 4,873 shares in the company, valued at $877,968.41. This trade represents a 77.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,049 shares of company stock valued at $26,106,112 over the last quarter. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALL. Wells Fargo & Company lifted their price target on Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Bank of America upped their target price on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. UBS Group lifted their price target on shares of Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Roth Mkm reissued a “buy” rating and set a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.19.

Allstate Company Profile

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.