Teacher Retirement System of Texas Has $29.06 Million Position in The Allstate Corporation $ALL

Key Points

• Teacher Retirement System of Texas raised its stake in Allstate by 7.0% in Q4 to 139,617 shares, now worth about $29.06 million (0.05% of the company) after buying an additional 9,185 shares.
• Allstate beat Q4 expectations, reporting $14.31 EPS vs. $8.72 expected and $17.35 billion in revenue, with a 39.2% ROE; analysts expect ~25.95 EPS for the current fiscal year.
• Allstate increased its quarterly dividend to $1.08 (annualized $4.32) for a ~2.0% yield and trades around $216.71, with a market cap of $55.96 billion and a P/E near 5.7.

Teacher Retirement System of Texas boosted its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 139,617 shares of the insurance provider's stock after purchasing an additional 9,185 shares during the quarter. Teacher Retirement System of Texas owned 0.05% of Allstate worth $29,061,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. South Plains Financial Inc. grew its holdings in Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider's stock valued at $36,000 after purchasing an additional 49 shares during the period. Humankind Investments LLC lifted its stake in Allstate by 4.5% in the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider's stock valued at $256,000 after buying an additional 51 shares in the last quarter. Howard Capital Management Inc. lifted its stake in Allstate by 3.2% in the third quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider's stock valued at $373,000 after buying an additional 54 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Allstate by 79.7% in the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider's stock valued at $27,000 after buying an additional 55 shares in the last quarter. Finally, L2 Asset Management LLC lifted its stake in Allstate by 4.7% in the third quarter. L2 Asset Management LLC now owns 1,223 shares of the insurance provider's stock valued at $263,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Price Performance

NYSE ALL opened at $216.71 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $219.48. The company has a market capitalization of $55.96 billion, a PE ratio of 5.67, a price-to-earnings-growth ratio of 0.43 and a beta of 0.22. The firm's 50 day moving average is $209.67 and its 200-day moving average is $205.69.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating the consensus estimate of $8.72 by $5.59. The company had revenue of $17.35 billion during the quarter, compared to analysts' expectations of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.Allstate's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $7.67 EPS. Equities research analysts anticipate that The Allstate Corporation will post 25.95 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were paid a $1.08 dividend. This is a positive change from Allstate's previous quarterly dividend of $1.00. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Monday, March 2nd. Allstate's dividend payout ratio is 11.31%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $220.00 price target on shares of Allstate in a research note on Thursday, February 5th. Mizuho cut their price target on shares of Allstate from $281.00 to $265.00 and set an "outperform" rating on the stock in a research note on Friday, March 20th. Citigroup lifted their price target on shares of Allstate from $216.00 to $221.00 and gave the company a "neutral" rating in a research note on Tuesday, February 10th. Evercore set a $225.00 price target on shares of Allstate in a research note on Wednesday, January 7th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $231.00 price target on shares of Allstate in a research note on Thursday, March 5th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Allstate has an average rating of "Moderate Buy" and a consensus target price of $238.65.

Allstate Company Profile

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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