Strs Ohio Reduces Stock Position in The Allstate Corporation $ALL

Strs Ohio lessened its position in The Allstate Corporation (NYSE:ALL) by 10.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 297,637 shares of the insurance provider’s stock after selling 35,484 shares during the period. Strs Ohio’s holdings in Allstate were worth $61,712,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. CIBC Bancorp USA Inc. purchased a new position in Allstate during the 3rd quarter valued at about $7,814,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Allstate by 5.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock worth $112,533,000 after buying an additional 26,586 shares during the period. Mezzasalma Advisors LLC grew its position in shares of Allstate by 58.6% in the 4th quarter. Mezzasalma Advisors LLC now owns 23,918 shares of the insurance provider’s stock worth $4,875,000 after buying an additional 8,837 shares during the last quarter. B. Metzler seel. Sohn & Co. AG increased its stake in shares of Allstate by 28.9% during the third quarter. B. Metzler seel. Sohn & Co. AG now owns 50,408 shares of the insurance provider’s stock valued at $10,820,000 after buying an additional 11,297 shares during the period. Finally, Meyer Handelman Co. increased its stake in shares of Allstate by 4.8% during the fourth quarter. Meyer Handelman Co. now owns 206,787 shares of the insurance provider’s stock valued at $43,043,000 after buying an additional 9,438 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

ALL has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lowered Allstate from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $266.00 to $242.00 in a research note on Monday, June 8th. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Allstate in a research note on Thursday, June 18th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.33.

Insider Buying and Selling at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director owned 2,225 shares in the company, valued at $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This trade represents a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is owned by corporate insiders.

Allstate Stock Performance

Shares of ALL opened at $249.84 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average price is $219.88 and its 200-day moving average price is $211.27. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $250.38. The stock has a market cap of $64.31 billion, a P/E ratio of 5.51, a P/E/G ratio of 0.43 and a beta of 0.16.

Allstate (NYSE:ALL) last issued 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 during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $3.53 earnings per share. Equities research analysts anticipate that The Allstate Corporation will post 29.75 earnings per share for the current fiscal year.

Allstate Announces Dividend

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

Allstate Company 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.