Employees Retirement System of Texas Has $4.38 Million Position in The Allstate Corporation $ALL

Key Points

• Employees Retirement System of Texas cut its Allstate stake by 21.4% in the fourth quarter, leaving it with 21,017 shares valued at about $4.38 million.
• Allstate reported strong first-quarter earnings, posting $10.65 EPS versus the $7.31 consensus estimate and revenue of $16.94 billion, both ahead of expectations.
• The company also announced a quarterly dividend of $1.08 per share, payable July 1, which works out to a 2.1% annualized yield.

Employees Retirement System of Texas reduced its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 21.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,017 shares of the insurance provider's stock after selling 5,715 shares during the quarter. Employees Retirement System of Texas' holdings in Allstate were worth $4,375,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC grew its position in Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after buying an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in Allstate during the fourth quarter worth about $231,000. WINTON GROUP Ltd acquired a new stake in Allstate during the second quarter worth about $210,000. Treasurer of the State of North Carolina grew its position in Allstate by 2.5% during the second quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider's stock worth $24,816,000 after buying an additional 3,051 shares in the last quarter. Finally, Ieq Capital LLC grew its position in Allstate by 20.1% during the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider's stock worth $7,713,000 after buying an additional 6,412 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the business's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares of the company's stock, valued at $17,991,267.60. The trade was a 18.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Q. Prindiville sold 1,550 shares of the business's stock in a transaction 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 completion of the transaction, 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. 1.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALL. Piper Sandler lifted their target price on Allstate from $252.00 to $268.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Citigroup raised their price target on shares of Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Cantor Fitzgerald restated a "neutral" rating and set a $220.00 price target on shares of Allstate in a research note on Thursday, February 5th. Wall Street Zen cut shares of Allstate from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $260.00 target price on shares of Allstate in a research note on Tuesday, March 3rd. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Allstate has an average rating of "Moderate Buy" and a consensus target price of $241.67.

Allstate Stock Performance

Shares of Allstate stock opened at $208.90 on Thursday. The firm has a fifty day moving average of $212.66 and a two-hundred day moving average of $208.53. The stock has a market capitalization of $53.78 billion, a price-to-earnings ratio of 4.61, a PEG ratio of 0.38 and a beta of 0.21. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $227.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion during the quarter, compared to analysts' expectations of $15.24 billion. During the same quarter in the previous year, the company posted $3.53 EPS. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research analysts predict that The Allstate Corporation will post 29.28 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. Allstate's payout ratio is 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.

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