New York State Common Retirement Fund Reduces Stock Position in The Allstate Corporation $ALL

New York State Common Retirement Fund decreased its holdings in The Allstate Corporation (NYSE:ALL) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 167,493 shares of the insurance provider’s stock after selling 3,077 shares during the period. New York State Common Retirement Fund owned about 0.06% of Allstate worth $35,952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Harbor Capital Advisors Inc. raised its stake in shares of Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Barnes Dennig Private Wealth Management LLC grew its stake in Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 73 shares in the last quarter. Clearstead Trust LLC increased its holdings in Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 152 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in Allstate by 315.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 126 shares during the period. Finally, Hilltop National Bank bought a new stake in Allstate during the 2nd quarter valued at $34,000. 76.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a research report on Wednesday, January 21st. Wells Fargo & Company increased their target price on shares of Allstate from $216.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. BMO Capital Markets raised their target price on shares of Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Wall Street Zen cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, The Goldman Sachs Group set a $227.00 price objective on shares of Allstate in a research note on Wednesday, January 7th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $236.19.

Allstate Trading Up 0.3%

NYSE:ALL opened at $198.89 on Friday. The stock has a market capitalization of $52.05 billion, a price-to-earnings ratio of 6.44, a PEG ratio of 0.43 and a beta of 0.24. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.89. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $204.57 and a 200 day moving average of $203.34.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.48 by $5.69. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The business had revenue of $17.26 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same period in the previous year, the company earned $3.91 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, December 1st. Allstate’s dividend payout ratio is currently 12.95%.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the sale, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 48,400 shares of company stock valued at $10,313,256 in the last three months. Company insiders own 1.70% of the company’s stock.

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.