Utah Retirement Systems decreased its position in shares of Allstate Corp (NYSE:ALL) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,293 shares of the insurance provider’s stock after selling 700 shares during the quarter. Utah Retirement Systems’ holdings in Allstate were worth $6,346,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in ALL. BlackRock Inc. boosted its stake in shares of Allstate by 10.6% during the 3rd quarter. BlackRock Inc. now owns 27,138,023 shares of the insurance provider’s stock worth $2,678,525,000 after acquiring an additional 2,608,827 shares in the last quarter. Boston Partners boosted its stake in shares of Allstate by 11.2% during the 2nd quarter. Boston Partners now owns 10,511,724 shares of the insurance provider’s stock worth $959,406,000 after acquiring an additional 1,061,730 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Allstate by 394.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,106,269 shares of the insurance provider’s stock worth $109,189,000 after acquiring an additional 882,348 shares in the last quarter. FMR LLC boosted its stake in shares of Allstate by 24.7% during the 2nd quarter. FMR LLC now owns 4,096,814 shares of the insurance provider’s stock worth $373,917,000 after acquiring an additional 811,694 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Allstate by 101.9% during the 2nd quarter. Millennium Management LLC now owns 1,589,586 shares of the insurance provider’s stock worth $145,082,000 after acquiring an additional 802,167 shares in the last quarter. 77.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of Allstate stock opened at $85.37 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.26 and a quick ratio of 0.26. Allstate Corp has a 1 year low of $86.18 and a 1 year high of $105.36. The company has a market cap of $29.76 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.16 and a beta of 0.85.
Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.21 by ($0.28). Allstate had a return on equity of 15.48% and a net margin of 9.38%. The company had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts forecast that Allstate Corp will post 8.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, November 30th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.84 annualized dividend and a yield of 2.16%. Allstate’s dividend payout ratio (DPR) is presently 27.42%.
Several research analysts recently issued reports on ALL shares. Zacks Investment Research downgraded Allstate from a “buy” rating to a “hold” rating in a research report on Monday, September 24th. Bank of America cut their price objective on Allstate from $113.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Wells Fargo & Co set a $100.00 price objective on Allstate and gave the stock a “hold” rating in a research report on Wednesday, October 31st. Credit Suisse Group set a $112.00 price objective on Allstate and gave the stock a “buy” rating in a research report on Wednesday, November 14th. Finally, Morgan Stanley cut their price objective on Allstate from $105.00 to $102.00 and set a “hold” rating for the company in a research report on Wednesday, November 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Allstate has a consensus rating of “Hold” and an average target price of $102.82.
In other Allstate news, EVP Jesse E. Merten sold 696 shares of the business’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $92.12, for a total value of $64,115.52. Following the completion of the transaction, the executive vice president now directly owns 2,102 shares in the company, valued at approximately $193,636.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Harriet K. Harty sold 10,515 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $98.87, for a total value of $1,039,618.05. Following the completion of the transaction, the executive vice president now owns 14,606 shares of the company’s stock, valued at $1,444,095.22. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
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The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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