The Allstate Co. (NYSE:ALL) Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its stake in shares of The Allstate Co. (NYSE:ALL) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,410 shares of the insurance provider’s stock after acquiring an additional 382 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Allstate were worth $2,857,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Allstate in the third quarter valued at $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Allstate in the 4th quarter valued at $36,000. Venturi Wealth Management LLC increased its stake in Allstate by 152.7% in the 4th quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after buying an additional 168 shares during the period. Bruce G. Allen Investments LLC purchased a new position in Allstate during the 4th quarter worth $43,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Allstate in the fourth quarter valued at about $53,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALL has been the subject of a number of analyst reports. Evercore ISI increased their target price on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Piper Sandler raised their price objective on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Jefferies Financial Group upgraded Allstate from a “hold” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $180.00 in a research report on Tuesday, January 9th. The Goldman Sachs Group lifted their price target on Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Finally, Morgan Stanley raised their price objective on shares of Allstate from $187.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.18.

Allstate Stock Up 1.1 %

NYSE ALL traded up $1.79 on Wednesday, hitting $169.98. 151,366 shares of the stock traded hands, compared to its average volume of 1,663,731. The company has a market capitalization of $44.86 billion, a P/E ratio of 37.13, a price-to-earnings-growth ratio of 0.39 and a beta of 0.51. The stock has a 50-day moving average of $166.44 and a 200 day moving average of $151.91. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $177.37.

Allstate (NYSE:ALL) last issued its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $1.02. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company had revenue of $15.26 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same period in the prior year, the company earned ($1.30) earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, analysts expect that The Allstate Co. will post 14.57 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.92 dividend. This is an increase from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s payout ratio is presently 81.24%.

Insider Activity

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

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.