Kentucky Retirement Systems Insurance Trust Fund Sells 8,468 Shares of The Allstate Corporation (NYSE:ALL)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 52.6% in the first quarter, according to the company in its most recent disclosure with the 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 modified their holdings of the business. Intrust Bank NA grew its holdings in Allstate by 0.5% during the 4th quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider's stock valued at $2,340,000 after purchasing an additional 61 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Allstate by 4.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,505 shares of the insurance provider's stock valued at $290,000 after purchasing an additional 63 shares during the period. Miracle Mile Advisors LLC boosted its holdings in shares of Allstate by 1.7% in the first quarter. Miracle Mile Advisors LLC now owns 3,777 shares of the insurance provider's stock valued at $782,000 after purchasing an additional 63 shares during the period. SRS Capital Advisors Inc. lifted its holdings in Allstate by 28.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 302 shares of the insurance provider's stock worth $58,000 after buying an additional 66 shares during the period. Finally, Duncker Streett & Co. Inc. lifted its holdings in Allstate by 6.9% during the fourth quarter. Duncker Streett & Co. Inc. now owns 1,060 shares of the insurance provider's stock worth $204,000 after buying an additional 68 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Down 0.1%

Shares of Allstate stock opened at $195.47 on Monday. The firm has a market capitalization of $51.76 billion, a PE ratio of 13.35, a P/E/G ratio of 1.02 and a beta of 0.35. The Allstate Corporation has a twelve month low of $157.48 and a twelve month high of $213.18. The firm's 50-day moving average price is $200.82 and its 200 day moving average price is $196.58. 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 for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). Allstate had a return on equity of 24.62% and a net margin of 6.19%. The business had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. During the same period last year, the business earned $5.13 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate declared that its board has authorized a share buyback program on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Allstate Dividend Announcement

The firm 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. This represents a $4.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Monday, June 9th. Allstate's dividend payout ratio (DPR) is 27.32%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALL. Barclays reduced their price target on Allstate from $183.00 to $172.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company cut their price target on Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Argus raised Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. increased their price target on Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Finally, William Blair started coverage on Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Allstate currently has a consensus rating of "Moderate Buy" and an average target price of $225.20.

Allstate Company 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.

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