PBU The Pension Fund of Early Childhood & Youth Educators Purchases New Stake in The Allstate Corporation $ALL

Key Points

• PBU The Pension Fund of Early Childhood & Youth Educators disclosed a new stake in Allstate, buying 52,927 shares valued at about $11.0 million in the fourth quarter.
• Allstate reported strong quarterly results, posting EPS of $10.65 versus the $7.31 estimate and revenue of $16.94 billion, both ahead of expectations.
• The company also announced a quarterly dividend of $1.08 per share, implying an annualized dividend of $4.32 and a yield of about 2.0%.

PBU The Pension Fund of Early Childhood & Youth Educators purchased a new stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 52,927 shares of the insurance provider's stock, valued at approximately $11,017,000.

Several other institutional investors also recently added to or reduced their stakes in ALL. Brighton Jones LLC grew its position in Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC bought a new position in Allstate during the fourth quarter worth about $231,000. WINTON GROUP Ltd bought a new position in Allstate during the second quarter worth about $210,000. Treasurer of the State of North Carolina boosted its position in Allstate by 2.5% during the second quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider's stock worth $24,816,000 after purchasing an additional 3,051 shares during the period. Finally, Ieq Capital LLC boosted its position in Allstate by 20.1% during the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider's stock worth $7,713,000 after purchasing an additional 6,412 shares during the period. Institutional investors own 76.47% of the company's stock.

Insider Transactions at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director owned 2,225 shares of the company's stock, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the company's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares of the company's stock, valued at $5,959,968.66. This trade represents a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ALL. The Goldman Sachs Group reiterated a "neutral" rating and set a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Citigroup increased their target price on shares of Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Piper Sandler reiterated an "overweight" rating on shares of Allstate in a research report on Thursday, May 28th. Wells Fargo & Company increased their target price on shares of Allstate from $229.00 to $243.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. Finally, Barclays increased their price target on shares of Allstate from $207.00 to $208.00 and gave the stock an "underweight" rating in a report on Wednesday, April 8th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $241.67.

Allstate Trading Up 4.8%

Shares of ALL opened at $220.98 on Friday. The firm's 50 day simple moving average is $213.31 and its 200 day simple moving average is $208.65. The company has a market capitalization of $56.88 billion, a P/E ratio of 4.87, a P/E/G ratio of 0.38 and a beta of 0.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts' consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. Allstate's quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $3.53 earnings per share. Sell-side analysts forecast that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, June 1st. Allstate's payout ratio is presently 9.53%.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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