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

Retirement Systems of Alabama increased its holdings in shares of The Allstate Co. (NYSE:ALL) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,216 shares of the insurance provider’s stock after buying an additional 279 shares during the quarter. Retirement Systems of Alabama’s holdings in Allstate were worth $9,295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. SageView Advisory Group LLC purchased a new position in shares of Allstate during the 4th quarter worth about $456,000. Rafferty Asset Management LLC raised its stake in Allstate by 5.7% during the fourth quarter. Rafferty Asset Management LLC now owns 92,753 shares of the insurance provider’s stock worth $12,984,000 after purchasing an additional 4,987 shares during the period. Lighthouse Investment Partners LLC acquired a new position in shares of Allstate in the 4th quarter valued at $5,927,000. BDF Gestion purchased a new stake in shares of Allstate during the 2nd quarter valued at $3,051,000. Finally, Mizuho Markets Americas LLC acquired a new stake in shares of Allstate during the 4th quarter worth $52,042,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALL. Keefe, Bruyette & Woods boosted their price target on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. BMO Capital Markets boosted their target price on Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Roth Mkm reiterated a “buy” rating and set a $200.00 price objective on shares of Allstate in a research note on Wednesday, August 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $191.94.

Insider Buying and Selling

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the transaction, the executive vice president now directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Thomas J. Wilson sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the sale, the chief executive officer now directly owns 88,552 shares of the company’s stock, valued at approximately $15,880,915.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total value of $8,861,552.29. Following the transaction, the executive vice president now owns 19,163 shares in the company, valued at $3,431,901.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,938 shares of company stock worth $36,122,740. Insiders own 1.80% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $180.51 on Friday. The company’s fifty day moving average price is $168.41 and its two-hundred day moving average price is $166.31. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $47.64 billion, a P/E ratio of 39.85, a P/E/G ratio of 1.86 and a beta of 0.48. The Allstate Co. has a 12 month low of $104.70 and a 12 month high of $184.30.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The business had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. During the same quarter in the previous year, the firm posted ($4.42) earnings per share. The company’s revenue was up 12.4% compared to the same quarter last year. On average, research analysts anticipate that The Allstate Co. will post 13.64 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, August 30th. Allstate’s payout ratio is currently 81.24%.

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.