Kentucky Retirement Systems boosted its stake in The Allstate Corporation (NYSE:ALL – Free Report) by 126.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,553 shares of the insurance provider’s stock after buying an additional 20,985 shares during the quarter. Kentucky Retirement Systems’ holdings in Allstate were worth $7,786,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. State Street Corp increased its position in Allstate by 3.7% during the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after buying an additional 438,034 shares in the last quarter. GQG Partners LLC lifted its position in shares of Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after acquiring an additional 1,452,993 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Allstate by 29.2% during the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after acquiring an additional 1,131,172 shares during the last quarter. Boston Partners boosted its stake in shares of Allstate by 14.9% during the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after acquiring an additional 395,195 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Allstate by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider’s stock worth $581,515,000 after purchasing an additional 154,259 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on ALL. Barclays boosted their target price on shares of Allstate from $203.00 to $213.00 and gave the company an “underweight” rating in a research note on Tuesday, July 7th. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Atlantic Securities set a $319.00 price objective on shares of Allstate in a research report on Wednesday, July 15th. Cantor Fitzgerald upped their price objective on shares of Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Citigroup raised their target price on shares of Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $254.80.
Insider Buying and Selling at Allstate
In other news, Director Andrea Redmond sold 2,225 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director owned 2,225 shares of the company’s stock, valued at $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,353 shares of company stock valued at $4,851,560 over the last ninety days. Corporate insiders own 1.55% of the company’s stock.
Allstate Price Performance
ALL opened at $274.16 on Thursday. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The company’s 50 day simple moving average is $233.97 and its 200 day simple moving average is $217.36. The stock has a market capitalization of $70.58 billion, a PE ratio of 6.05, a P/E/G ratio of 0.47 and a beta of 0.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.
Allstate (NYSE:ALL – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the firm posted $3.53 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts expect that The Allstate Corporation will post 30.69 EPS for the current year.
Allstate Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.6%. Allstate’s dividend payout ratio (DPR) is presently 9.53%.
About Allstate
Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.
The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.
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