California Public Employees Retirement System Cuts Stock Position in The Allstate Co. (NYSE:ALL)

California Public Employees Retirement System cut its stake in shares of The Allstate Co. (NYSE:ALL - Free Report) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,596,394 shares of the insurance provider's stock after selling 5,635 shares during the quarter. California Public Employees Retirement System owned about 0.61% of Allstate worth $223,463,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Allstate by 11.5% during the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider's stock valued at $3,595,266,000 after purchasing an additional 3,322,673 shares during the period. Invesco Ltd. lifted its position in Allstate by 46.6% during the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider's stock valued at $459,225,000 after purchasing an additional 1,311,095 shares during the period. Diamond Hill Capital Management Inc. lifted its position in Allstate by 23.0% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider's stock valued at $466,163,000 after purchasing an additional 782,696 shares during the period. Nordea Investment Management AB lifted its position in Allstate by 49.5% during the third quarter. Nordea Investment Management AB now owns 1,640,174 shares of the insurance provider's stock valued at $183,388,000 after purchasing an additional 542,842 shares during the period. Finally, Morgan Stanley raised its position in shares of Allstate by 16.9% in the third quarter. Morgan Stanley now owns 3,701,607 shares of the insurance provider's stock worth $412,396,000 after acquiring an additional 536,137 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ALL shares. Roth Mkm upped their price objective on shares of Allstate from $175.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods boosted their target price on shares of Allstate from $181.00 to $189.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. boosted their target price on shares of Allstate from $172.00 to $185.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. Morgan Stanley boosted their target price on shares of Allstate from $187.00 to $190.00 and gave the stock an "overweight" rating in a research note on Monday, April 15th. Finally, TD Cowen began coverage on shares of Allstate in a research note on Wednesday, January 10th. They set an "outperform" rating and a $193.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.71.

Allstate Trading Down 0.1 %

Shares of ALL stock traded down $0.14 during trading on Tuesday, hitting $175.27. 1,410,796 shares of the stock traded hands, compared to its average volume of 1,691,176. The firm has a market capitalization of $46.11 billion, a P/E ratio of -141.35, a price-to-earnings-growth ratio of 0.42 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.37 and a quick ratio of 0.37. The firm's fifty day moving average price is $164.50 and its 200-day moving average price is $148.42. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $176.93.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, beating the consensus estimate of $3.87 by $1.95. The firm had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.36) EPS. As a group, research analysts forecast that The Allstate Co. will post 13.44 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Allstate's previous quarterly dividend of $0.89. Allstate's payout ratio is presently -296.77%.

Insider Activity

In other Allstate news, insider John E. Dugenske sold 31,000 shares of the business's stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the sale, the insider now owns 63,731 shares of the company's stock, valued at $10,847,016.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Allstate news, CAO John C. Pintozzi sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares of the company's stock, valued at $1,712,069.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 31,000 shares of the business's stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the sale, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company's stock.

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.