Teacher Retirement System of Texas Cuts Stake in The Allstate Corporation (NYSE:ALL)

Teacher Retirement System of Texas decreased its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 52.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,468 shares of the insurance provider's stock after selling 183,738 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of Allstate worth $34,678,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ALL. Vanguard Group Inc. grew its position in Allstate by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider's stock valued at $6,291,783,000 after acquiring an additional 389,426 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Allstate by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock valued at $1,799,681,000 after purchasing an additional 218,771 shares during the period. Bank of America Corp DE grew its holdings in Allstate by 157.9% during the 4th quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock valued at $1,270,705,000 after purchasing an additional 4,035,629 shares in the last quarter. Geode Capital Management LLC grew its holdings in Allstate by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 6,419,728 shares of the insurance provider's stock valued at $1,236,060,000 after purchasing an additional 191,147 shares in the last quarter. Finally, GQG Partners LLC increased its stake in Allstate by 64.1% during the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock worth $832,181,000 after buying an additional 1,685,694 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

ALL stock opened at $196.72 on Friday. The Allstate Corporation has a 1 year low of $157.50 and a 1 year high of $213.18. The stock has a market capitalization of $52.09 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.01 and a beta of 0.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.40. The stock's fifty day moving average is $201.30 and its two-hundred day moving average is $196.58.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a net margin of 6.19% and a return on equity of 24.62%. The firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $16.41 billion. During the same quarter in the prior 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, research analysts predict that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 9th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Monday, June 9th. Allstate's dividend payout ratio is currently 27.32%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ALL. Barclays lowered their target price on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. upped their target price on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods raised their price target on shares of Allstate from $228.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. William Blair assumed coverage on shares of Allstate in a research note on Friday, June 6th. They issued a "sector outperform" rating for the company. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average 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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