Kentucky Retirement Systems Insurance Trust Fund Trims Stock Position in The Allstate Corporation (NYSE:ALL)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in shares of The Allstate Corporation (NYSE:ALL) by 52.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 7,639 shares of the insurance provider’s stock after selling 8,468 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Allstate were worth $1,582,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Intrust Bank NA raised its position in shares of Allstate by 0.5% during the 4th quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider’s stock valued at $2,340,000 after buying an additional 61 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Allstate by 4.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,505 shares of the insurance provider’s stock valued at $290,000 after buying an additional 63 shares during the period. Miracle Mile Advisors LLC raised its position in shares of Allstate by 1.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 3,777 shares of the insurance provider’s stock valued at $782,000 after buying an additional 63 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Allstate by 28.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 302 shares of the insurance provider’s stock valued at $58,000 after buying an additional 66 shares during the period. Finally, Duncker Streett & Co. Inc. raised its position in shares of Allstate by 6.9% during the 4th quarter. Duncker Streett & Co. Inc. now owns 1,060 shares of the insurance provider’s stock valued at $204,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Trading Down 0.1%

ALL stock opened at $195.47 on Monday. The company has a market cap 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 quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $200.82 and a 200-day simple moving average of $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 released 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 for the quarter, compared to analyst estimates of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.13 earnings per share. On average, equities research analysts expect that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a yield of 2.05%. Allstate’s dividend payout ratio (DPR) is 27.32%.

Allstate declared that its board has authorized a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Argus raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. William Blair initiated coverage on shares of Allstate in a research report on Friday, June 6th. They set a “sector outperform” rating on the stock. Raymond James Financial reissued a “strong-buy” rating and issued a $250.00 target price (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods boosted their target price on Allstate from $228.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.20.

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.