California Public Employees Retirement System Reduces Stake in The Allstate Co. (NYSE:ALL)

California Public Employees Retirement System cut its position in The Allstate Co. (NYSE:ALL) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,596,394 shares of the insurance provider’s stock after selling 5,635 shares during the quarter. California Public Employees Retirement System owned about 0.61% of Allstate worth $223,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Allstate by 11.5% during the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after buying an additional 3,322,673 shares in the last quarter. Invesco Ltd. increased its position in shares of Allstate by 46.6% in the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after purchasing an additional 1,311,095 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in Allstate by 23.0% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock valued at $466,163,000 after purchasing an additional 782,696 shares in the last quarter. Nordea Investment Management AB increased its stake in Allstate by 49.5% in the third quarter. Nordea Investment Management AB now owns 1,640,174 shares of the insurance provider’s stock valued at $183,388,000 after acquiring an additional 542,842 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Allstate by 16.9% during the third quarter. Morgan Stanley now owns 3,701,607 shares of the insurance provider’s stock worth $412,396,000 after purchasing an additional 536,137 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ALL. Roth Mkm raised their price objective on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Allstate from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. TheStreet raised shares of Allstate from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Evercore ISI boosted their price target on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Finally, BMO Capital Markets lifted their price objective on Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.71.

Insider Activity

In related news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the transaction, the insider now owns 63,731 shares of the company’s stock, valued at approximately $10,847,016.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares in the company, valued at $1,712,069.92. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Allstate Trading Down 0.1 %

Shares of ALL traded down $0.25 during trading hours on Tuesday, reaching $175.16. 145,226 shares of the company traded hands, compared to its average volume of 1,674,152. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $176.23. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average price is $164.17 and its two-hundred day moving average price is $147.99.

Allstate (NYSE:ALL) last posted its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $1.95. The firm had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.36) EPS. Sell-side analysts predict that The Allstate Co. will post 13.44 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $3.68 annualized dividend and a yield of 2.10%. This is a positive change from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio (DPR) is currently -296.77%.

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.