California Public Employees Retirement System Reduces Holdings in The Allstate Corporation $ALL

California Public Employees Retirement System reduced its holdings in shares of The Allstate Corporation (NYSE:ALL) by 14.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,022,960 shares of the insurance provider’s stock after selling 173,044 shares during the period. California Public Employees Retirement System owned about 0.39% of Allstate worth $205,932,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Allstate by 60.2% during the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after acquiring an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in Allstate in the 4th quarter worth $231,000. Citigroup Inc. lifted its position in Allstate by 79.4% during the first quarter. Citigroup Inc. now owns 324,622 shares of the insurance provider’s stock valued at $67,219,000 after purchasing an additional 143,647 shares in the last quarter. National Bank of Canada FI grew its holdings in Allstate by 16.0% during the first quarter. National Bank of Canada FI now owns 226,356 shares of the insurance provider’s stock valued at $46,872,000 after purchasing an additional 31,197 shares during the period. Finally, Savvy Advisors Inc. increased its position in Allstate by 6.8% in the first quarter. Savvy Advisors Inc. now owns 1,249 shares of the insurance provider’s stock worth $259,000 after buying an additional 79 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ALL has been the topic of a number of analyst reports. Wolfe Research raised Allstate to a “strong-buy” rating in a research report on Tuesday, September 16th. Wells Fargo & Company lifted their price target on shares of Allstate from $202.00 to $216.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Cantor Fitzgerald upgraded shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Citigroup upgraded shares of Allstate to a “hold” rating in a research report on Wednesday, August 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $237.92.

Allstate Trading Down 2.0%

Allstate stock opened at $202.23 on Monday. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.89. The firm’s 50 day moving average price is $204.49 and its 200-day moving average price is $202.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market cap of $52.92 billion, a P/E ratio of 6.55, a PEG ratio of 0.38 and a beta of 0.25.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. The firm had revenue of $17.26 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a net margin of 12.53% and a return on equity of 35.42%. Allstate’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.91 earnings per share. On average, equities analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a dividend of $1.00 per share. The ex-dividend date is Monday, December 1st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. Allstate’s dividend payout ratio (DPR) is presently 12.95%.

Insider Buying and Selling at Allstate

In other news, insider Suren Gupta sold 21,871 shares of Allstate stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $215.21, for a total value of $4,706,857.91. Following the sale, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,660,025.66. The trade was a 17.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 28,807 shares of company stock worth $6,198,726 in the last ninety days. Company insiders own 1.70% of the company’s stock.

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.