National Pension Service Has $129.55 Million Stock Holdings in The Allstate Corporation $ALL

National Pension Service lifted its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 544,451 shares of the insurance provider's stock after purchasing an additional 16,940 shares during the period. National Pension Service owned about 0.22% of Allstate worth $129,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Global Advisors LLC acquired a new position in Allstate during the 2nd quarter worth about $11,680,000. OMERS ADMINISTRATION Corp bought a new position in shares of Allstate during the second quarter worth about $6,861,000. Elevation Point Wealth Partners LLC raised its position in shares of Allstate by 130.9% during the first quarter. Elevation Point Wealth Partners LLC now owns 19,288 shares of the insurance provider's stock worth $4,016,000 after acquiring an additional 10,936 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Allstate by 8.1% in the first quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider's stock worth $1,640,748,000 after acquiring an additional 596,321 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Allstate by 69.2% in the fourth quarter. CIBC Asset Management Inc now owns 63,011 shares of the insurance provider's stock valued at $13,116,000 after acquiring an additional 25,764 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Insiders Place Their Bets

In other Allstate news, insider John Dugenske sold 32,996 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.55% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on ALL shares. Citigroup lowered shares of Allstate from a "neutral" rating to a "sell" rating and raised their price target for the stock from $226.00 to $240.00 in a report on Tuesday, August 11th. Cantor Fitzgerald increased their price objective on shares of Allstate from $236.00 to $242.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Roth Capital set a $300.00 target price on shares of Allstate in a report on Thursday, August 6th. Argus set a $238.00 price target on shares of Allstate in a research report on Friday, August 28th. Finally, Wells Fargo & Company downgraded Allstate from an "equal weight" rating to an "underweight" rating and increased their price target for the stock from $243.00 to $250.00 in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Allstate has a consensus rating of "Hold" and an average price target of $263.90.

Allstate Stock Down 0.6%

Shares of NYSE ALL opened at $252.11 on Friday. The company's fifty day simple moving average is $257.84 and its 200 day simple moving average is $230.23. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. The firm has a market cap of $63.75 billion, a PE ratio of 5.03, a P/E/G ratio of 0.57 and a beta of 0.15. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The company had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $15.46 billion. During the same period last year, the business posted $5.94 EPS. The firm's revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, sell-side analysts forecast that The Allstate Corporation will post 35.5 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate's payout ratio is currently 8.63%.

Allstate Profile

Allstate Corporation is an insurance and protection-services company headquartered in Northbrook, Illinois. Through its Allstate and National General brands, the company primarily provides property and casualty insurance to individuals and businesses in the United States.

Its products include automobile, homeowners, renters, condominium, landlord, motorcycle and recreational-vehicle insurance, along with other personal and commercial coverage. Allstate also offers roadside assistance, identity protection and related protection services through its various businesses and distribution channels, including agents, brokers and digital platforms.

Allstate's roots date to 1931, when the Allstate Insurance Company was established as a subsidiary of Sears, Roebuck & Co The company became independent from Sears in the 1990s.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.