Employees Retirement System of Texas Has $4.38 Million Holdings in The Allstate Corporation $ALL

Employees Retirement System of Texas cut its stake in The Allstate Corporation (NYSE:ALL) by 21.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,017 shares of the insurance provider’s stock after selling 5,715 shares during the period. Employees Retirement System of Texas’ holdings in Allstate were worth $4,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. South Plains Financial Inc. boosted its stake in Allstate by 41.5% in the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 49 shares during the period. Coldstream Capital Management Inc. boosted its stake in Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock worth $1,625,000 after purchasing an additional 50 shares during the period. Humankind Investments LLC boosted its stake in Allstate by 4.5% in the 3rd quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock worth $256,000 after purchasing an additional 51 shares during the period. Cullen Frost Bankers Inc. boosted its stake in Allstate by 0.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock worth $1,210,000 after purchasing an additional 52 shares during the period. Finally, Howard Capital Management Inc. boosted its stake in Allstate by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock worth $373,000 after purchasing an additional 54 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALL has been the topic of several analyst reports. Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Raymond James Financial reissued a “strong-buy” rating and set a $260.00 price target on shares of Allstate in a research report on Tuesday, March 3rd. Weiss Ratings raised shares of Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, March 23rd. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $220.00 target price on shares of Allstate in a report on Thursday, February 5th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Allstate has an average rating of “Moderate Buy” and an average price target of $241.67.

Allstate Stock Down 1.8%

Shares of ALL stock opened at $208.90 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The firm’s 50-day moving average is $212.66 and its 200-day moving average is $208.53. The stock has a market cap of $53.78 billion, a price-to-earnings ratio of 4.61, a PEG ratio of 0.38 and a beta of 0.21. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $227.62.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.53 EPS. Sell-side analysts predict that The Allstate Corporation will post 29.28 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio is currently 9.53%.

Insider Activity

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This represents a 5.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction dated 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 ownership of the stock. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by corporate insiders.

Allstate Profile

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.