Kentucky Retirement Systems Has $3.71 Million Stock Position in The Allstate Corporation (NYSE:ALL)

Kentucky Retirement Systems cut its stake in The Allstate Corporation (NYSE:ALL) by 1.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,934 shares of the insurance provider’s stock after selling 211 shares during the period. Kentucky Retirement Systems’ holdings in Allstate were worth $3,714,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ALL. Brighton Jones LLC raised its holdings in shares of Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after buying an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of Allstate in the 4th quarter worth approximately $231,000. Stenger Family Office LLC acquired a new position in shares of Allstate in the 4th quarter worth approximately $439,000. Principal Securities Inc. raised its holdings in shares of Allstate by 12.5% in the 4th quarter. Principal Securities Inc. now owns 1,696 shares of the insurance provider’s stock worth $327,000 after buying an additional 188 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Allstate by 141.1% in the 4th quarter. Venturi Wealth Management LLC now owns 557 shares of the insurance provider’s stock worth $107,000 after buying an additional 326 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALL. JPMorgan Chase & Co. increased their target price on Allstate from $217.00 to $222.00 and gave the stock an “overweight” rating in a report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on Allstate from $200.00 to $197.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Barclays dropped their price target on Allstate from $183.00 to $172.00 and set an “underweight” rating for the company in a report on Friday, April 11th. William Blair assumed coverage on Allstate in a report on Friday, June 6th. They set a “sector outperform” rating for the company. Finally, Evercore ISI raised their price target on Allstate from $227.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $225.20.

Allstate Stock Down 0.1%

Shares of ALL opened at $195.47 on Monday. The firm has a market capitalization of $51.76 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.02 and a beta of 0.35. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The business’s fifty day moving average price is $200.82 and its two-hundred day moving average price is $196.58. The Allstate Corporation has a 52 week low of $157.48 and a 52 week high of $213.18.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.45). The firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $16.41 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.13 earnings per share. On average, analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be given a $1.00 dividend. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a yield of 2.05%. Allstate’s payout ratio is 27.32%.

Allstate declared that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.