Employees Retirement System of Texas Cuts Position in The Allstate Corporation $ALL

Employees Retirement System of Texas decreased its position in shares of The Allstate Corporation (NYSE:ALL) by 2.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,542 shares of the insurance provider’s stock after selling 927 shares during the period. Employees Retirement System of Texas’ holdings in Allstate were worth $6,954,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Arlington Trust Co LLC increased its position in shares of Allstate by 261.8% during the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 89 shares during the last quarter. Clearstead Trust LLC boosted its stake in Allstate by 3,800.0% in the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after buying an additional 152 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in Allstate by 315.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 126 shares during the last quarter. Hilltop National Bank purchased a new position in shares of Allstate during the second quarter worth approximately $34,000. Finally, Chilton Capital Management LLC bought a new stake in shares of Allstate in the 2nd quarter worth approximately $38,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on ALL shares. Cantor Fitzgerald raised shares of Allstate to a “hold” rating in a report on Wednesday, August 13th. Evercore ISI set a $233.00 price objective on Allstate and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Roth Capital boosted their target price on Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets increased their target price on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Wall Street Zen cut Allstate from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.92.

Allstate Stock Up 0.6%

NYSE ALL opened at $213.92 on Thursday. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.89. The stock has a market capitalization of $55.98 billion, a PE ratio of 10.06, a PEG ratio of 0.69 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The business’s 50-day moving average is $204.37 and its 200 day moving average is $202.28.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, topping the consensus estimate of $5.48 by $5.69. The business had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.91 EPS. Sell-side analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $1.00 dividend. The ex-dividend date is Monday, December 1st. This represents a $4.00 annualized dividend and a yield of 1.9%. Allstate’s payout ratio is 12.95%.

Insider Transactions at Allstate

In other Allstate news, insider Suren Gupta sold 21,871 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 24,271 shares of company stock worth $5,222,986. 1.70% of the stock is currently owned by insiders.

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.