Retirement Systems of Alabama Reduces Position in The Allstate Co. (NYSE:ALL)

Retirement Systems of Alabama decreased its holdings in The Allstate Co. (NYSE:ALL) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,896 shares of the insurance provider’s stock after selling 320 shares during the period. Retirement Systems of Alabama’s holdings in Allstate were worth $10,980,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ALL. FSA Wealth Management LLC bought a new stake in Allstate during the 3rd quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new position in shares of Allstate in the third quarter valued at $28,000. Catalyst Capital Advisors LLC bought a new stake in shares of Allstate during the 3rd quarter valued at $29,000. Family Firm Inc. purchased a new stake in Allstate during the 2nd quarter worth about $38,000. Finally, MCF Advisors LLC boosted its stake in Allstate by 33.9% in the 2nd quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 84 shares during the period. Institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Evercore ISI increased their price target on shares of Allstate from $191.00 to $195.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. BMO Capital Markets increased their target price on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Jefferies Financial Group boosted their price target on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. UBS Group lifted their price objective on Allstate from $216.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Morgan Stanley upped their target price on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.19.

Allstate Trading Down 0.6 %

Shares of ALL opened at $195.05 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The Allstate Co. has a fifty-two week low of $134.17 and a fifty-two week high of $209.88. The firm has a 50 day moving average price of $195.23 and a 200-day moving average price of $181.76. The firm has a market cap of $51.65 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.70 and a beta of 0.50.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. The business had revenue of $16.63 billion during the quarter, compared to analyst estimates of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. As a group, equities research analysts forecast that The Allstate Co. will post 16.26 earnings per share for the current year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.89%. Allstate’s payout ratio is 23.83%.

Insiders Place Their Bets

In other news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Allstate 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.