Railway Pension Investments Ltd Takes Position in The Allstate Corporation $ALL

Railway Pension Investments Ltd purchased a new stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,800 shares of the insurance provider's stock, valued at approximately $7,091,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Gables Capital Management Inc. purchased a new stake in shares of Allstate during the second quarter worth $26,000. Allied Private Wealth LLC purchased a new stake in Allstate in the second quarter worth $29,000. Kelleher Financial Advisors bought a new stake in Allstate in the second quarter worth $28,000. MV Capital Management Inc. bought a new position in shares of Allstate during the fourth quarter valued at $25,000. Finally, Navalign LLC purchased a new stake in shares of Allstate during the 4th quarter valued at about $27,000. Institutional investors own 76.47% of the company's stock.

Analysts Set New Price Targets

ALL has been the topic of a number of research reports. Argus set a $238.00 price target on shares of Allstate in a report on Friday. Wells Fargo & Company downgraded Allstate from an "equal weight" rating to an "underweight" rating and lifted their price objective for the company from $243.00 to $250.00 in a report on Friday, August 7th. HSBC lowered Allstate from a "buy" rating to a "hold" rating and upped their target price for the stock from $244.00 to $264.00 in a report on Monday, July 6th. UBS Group raised their price objective on Allstate from $261.00 to $275.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a report on Monday, July 20th. Four equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $263.90.

Insider Transactions at Allstate

In related news, COO Mario Rizzo sold 56,225 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the sale, the chief operating officer directly owned 82,227 shares of the company's stock, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the transaction, the insider directly owned 13,054 shares of the company's stock, valued at $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is owned by corporate insiders.

Allstate Trading Down 0.8%

NYSE ALL opened at $258.38 on Tuesday. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. The company has a fifty day simple moving average of $254.86 and a two-hundred day simple moving average of $227.40. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The stock has a market cap of $65.33 billion, a P/E ratio of 5.16, a P/E/G ratio of 0.40 and a beta of 0.16.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping the consensus estimate of $6.06 by $2.93. The company had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. Allstate's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.94 EPS. On average, analysts forecast that The Allstate Corporation will post 34.45 earnings per share for the current year.

Allstate Dividend Announcement

The business 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 $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate's payout ratio is 8.63%.

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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