Kentucky Retirement Systems Insurance Trust Fund Decreases Stock Holdings in The Allstate Corporation (NYSE:ALL)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 52.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,639 shares of the insurance provider's stock after selling 8,468 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Allstate were worth $1,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALL. VSM Wealth Advisory LLC purchased a new position in shares of Allstate during the fourth quarter worth about $25,000. Twin Tree Management LP purchased a new stake in shares of Allstate in the 4th quarter valued at about $27,000. Vision Financial Markets LLC acquired a new stake in shares of Allstate in the 4th quarter valued at about $29,000. Hopwood Financial Services Inc. acquired a new stake in shares of Allstate in the 4th quarter valued at about $29,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Allstate during the 4th quarter worth approximately $29,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Performance

Shares of Allstate stock traded up $3.39 on Thursday, reaching $194.33. 1,611,614 shares of the stock were exchanged, compared to its average volume of 1,622,822. The firm has a market capitalization of $51.46 billion, a PE ratio of 13.27, a PEG ratio of 0.99 and a beta of 0.35. The Allstate Corporation has a 1-year low of $157.50 and a 1-year high of $213.18. The business has a fifty day moving average price of $200.83 and a two-hundred day moving average price of $196.46. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.98 by ($0.45). The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. The business's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.13 EPS. As a group, research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate announced that its board has approved a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Allstate Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 9th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Monday, June 9th. Allstate's dividend payout ratio is presently 27.32%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALL. Keefe, Bruyette & Woods boosted their price objective on Allstate from $228.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Morgan Stanley lifted their target price on shares of Allstate from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Raymond James Financial reiterated a "strong-buy" rating and set a $250.00 price target (up previously from $240.00) on shares of Allstate in a research note on Monday, May 5th. Evercore ISI lifted their price objective on shares of Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.20.

About Allstate

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.