New York State Teachers Retirement System Acquires 6,585 Shares of The Allstate Corporation $ALL

New York State Teachers Retirement System grew its holdings in The Allstate Corporation (NYSE:ALL) by 2.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 250,830 shares of the insurance provider’s stock after acquiring an additional 6,585 shares during the period. New York State Teachers Retirement System’s holdings in Allstate were worth $52,007,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. MV Capital Management Inc. bought a new stake in Allstate during the 4th quarter valued at approximately $25,000. Dorato Capital Management purchased a new position in Allstate in the 4th quarter worth approximately $27,000. Navalign LLC bought a new position in Allstate in the 4th quarter worth approximately $27,000. Princeton Global Asset Management LLC boosted its stake in Allstate by 101.3% in the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 76 shares during the period. Finally, Palisade Asset Management LLC purchased a new stake in Allstate during the 3rd quarter valued at approximately $31,000. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ALL shares. Weiss Ratings reissued a “buy (a-)” rating on shares of Allstate in a report on Thursday, June 18th. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Saturday. Barclays increased their price objective on shares of Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a report on Wednesday, April 8th. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Wells Fargo & Company lifted their target price on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $240.33.

Allstate Stock Down 0.2%

NYSE ALL opened at $249.84 on Friday. The stock has a 50 day moving average price of $220.59 and a 200-day moving average price of $211.53. The Allstate Corporation has a one year low of $188.08 and a one year high of $250.38. 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 company has a market capitalization of $64.31 billion, a P/E ratio of 5.51, a P/E/G ratio of 0.44 and a beta of 0.16.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The company 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%. Allstate’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.53 earnings per share. As a group, equities analysts predict that The Allstate Corporation will post 29.75 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

Insider Transactions at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares in the company, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. The trade was a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 in the last three months. Insiders own 1.55% of the company’s stock.

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.