Maryland State Retirement & Pension System Has $2.54 Million Position in The Allstate Corporation (NYSE:ALL)

Key Points

• The Maryland State Retirement & Pension System reduced its stake in The Allstate Corporation by 12.4%, owning 12,280 shares valued at approximately $2.54 million after the sale.
• Allstate reported a strong quarterly earnings performance with earnings per share of $5.94, significantly surpassing analysts' estimates of $3.20.
• A recent dividend of $1.00 per share was announced, equating to an annualized dividend yield of 1.9%.

Maryland State Retirement & Pension System decreased its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,280 shares of the insurance provider's stock after selling 1,746 shares during the quarter. Maryland State Retirement & Pension System's holdings in Allstate were worth $2,543,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ALL. Hughes Financial Services LLC bought a new position in Allstate in the first quarter valued at approximately $28,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $29,000. Meeder Asset Management Inc. raised its holdings in shares of Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 99 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new stake in shares of Allstate in the first quarter valued at approximately $43,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of Allstate in the fourth quarter valued at approximately $44,000. Institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

Shares of ALL stock traded down $0.39 on Monday, hitting $206.41. The company's stock had a trading volume of 843,787 shares, compared to its average volume of 1,717,777. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The stock's 50 day moving average is $198.31 and its 200-day moving average is $197.95. The Allstate Corporation has a fifty-two week low of $169.95 and a fifty-two week high of $213.18. The company has a market capitalization of $54.39 billion, a PE ratio of 9.82, a PEG ratio of 0.86 and a beta of 0.35.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business had revenue of $15.05 billion during the quarter, compared to analysts' expectations of $16.59 billion. During the same quarter in the prior year, the business posted $1.61 earnings per share. Allstate's revenue was up 5.8% compared to the same quarter last year. Equities research analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. Allstate's dividend payout ratio is currently 18.81%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Raymond James Financial restated a "strong-buy" rating and set a $260.00 target price (up from $250.00) on shares of Allstate in a report on Monday, August 4th. Wells Fargo & Company set a $202.00 target price on shares of Allstate and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Evercore ISI boosted their target price 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, Morgan Stanley boosted their target price on shares of Allstate from $235.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $229.20.

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.