Public Employees Retirement System of Ohio Invests $35.48 Million in The Allstate Corporation $ALL

Public Employees Retirement System of Ohio purchased a new stake in shares of The Allstate Corporation (NYSE:ALL) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 149,114 shares of the insurance provider’s stock, valued at approximately $35,480,000. Public Employees Retirement System of Ohio owned about 0.06% of Allstate at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ALL. MV Capital Management Inc. acquired a new stake in Allstate in the fourth quarter valued at approximately $25,000. Gables Capital Management Inc. bought a new position in shares of Allstate in the 2nd quarter valued at $26,000. Navalign LLC acquired a new stake in shares of Allstate during the 4th quarter valued at $27,000. Kelleher Financial Advisors bought a new stake in Allstate during the 2nd quarter worth $28,000. Finally, Evolution Wealth Management Inc. increased its holdings in Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the transaction, the chief operating officer owned 82,227 shares in the company, valued at $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction 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 directly owned 2,225 shares in the company, valued at $451,474.75. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 91,446 shares of company stock valued at $24,208,675 over the last quarter. Insiders own 1.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALL. Zacks Research upgraded Allstate from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Citigroup lowered shares of Allstate from a “neutral” rating to a “sell” rating and raised their price objective for the company from $226.00 to $240.00 in a report on Tuesday, August 11th. Piper Sandler boosted their target price on shares of Allstate from $268.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Roth Capital set a $300.00 price target on shares of Allstate in a research report on Thursday, August 6th. Finally, Cantor Fitzgerald raised their price target on shares of Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $263.90.

Allstate Trading Up 1.4%

Shares of ALL stock opened at $261.17 on Friday. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $277.22. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The stock has a market cap of $66.04 billion, a price-to-earnings ratio of 5.22, a PEG ratio of 0.39 and a beta of 0.16. The stock has a 50-day moving average of $254.14 and a 200-day moving average of $226.81.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. During the same period in the prior year, the business posted $5.94 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. On average, equities research analysts forecast that The Allstate Corporation will post 34.45 earnings per share for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate’s dividend payout ratio is 8.63%.

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.