The Allstate Co. (NYSE:ALL) Stock Position Increased by Employees Retirement System of Texas

Employees Retirement System of Texas grew its holdings in The Allstate Co. (NYSE:ALL - Free Report) by 27.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,392 shares of the insurance provider's stock after purchasing an additional 13,003 shares during the quarter. Employees Retirement System of Texas' holdings in Allstate were worth $11,643,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC grew its holdings in shares of Allstate by 10.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 508,664 shares of the insurance provider's stock worth $98,065,000 after buying an additional 48,382 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Allstate by 56.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 186,792 shares of the insurance provider's stock worth $36,012,000 after acquiring an additional 67,032 shares during the period. CIBC Asset Management Inc raised its holdings in Allstate by 4.7% in the 4th quarter. CIBC Asset Management Inc now owns 40,579 shares of the insurance provider's stock valued at $7,823,000 after acquiring an additional 1,828 shares during the last quarter. Keybank National Association OH raised its holdings in Allstate by 1.7% in the 4th quarter. Keybank National Association OH now owns 344,875 shares of the insurance provider's stock valued at $66,489,000 after acquiring an additional 5,786 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Allstate by 63.9% during the 4th quarter. Blue Trust Inc. now owns 4,900 shares of the insurance provider's stock worth $929,000 after purchasing an additional 1,911 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALL. Argus raised Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. BMO Capital Markets restated an "outperform" rating on shares of Allstate in a report on Friday, May 16th. Wells Fargo & Company dropped their price objective on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Evercore ISI increased their price objective on shares of Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

Allstate Stock Performance

ALL traded up $2.89 during trading hours on Friday, hitting $209.65. 2,491,873 shares of the stock were exchanged, compared to its average volume of 1,612,656. The stock has a market cap of $55.52 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.01 and a beta of 0.32. The stock has a 50-day simple moving average of $199.47 and a 200-day simple moving average of $196.76. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a return on equity of 28.20% and a net margin of 7.28%. The business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $16.41 billion. During the same quarter in the previous year, the business posted $5.13 earnings per share. The company's quarterly revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be paid a $1.00 dividend. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a yield of 1.91%. Allstate's payout ratio is currently 27.32%.

Allstate announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

Allstate 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.