Texas Permanent School Fund Cuts Stake in The Allstate Co. (NYSE:ALL)

Texas Permanent School Fund lowered its position in shares of The Allstate Co. (NYSE:ALLGet Rating) by 8.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,396 shares of the insurance provider’s stock after selling 3,146 shares during the quarter. Texas Permanent School Fund’s holdings in Allstate were worth $5,041,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. D.A. Davidson & CO. increased its holdings in shares of Allstate by 5.9% in the 4th quarter. D.A. Davidson & CO. now owns 12,044 shares of the insurance provider’s stock valued at $1,417,000 after purchasing an additional 670 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Allstate by 1.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 71,967 shares of the insurance provider’s stock valued at $8,467,000 after purchasing an additional 945 shares in the last quarter. AGF Investments Inc. increased its holdings in shares of Allstate by 27.2% in the 4th quarter. AGF Investments Inc. now owns 5,402 shares of the insurance provider’s stock valued at $636,000 after purchasing an additional 1,155 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Allstate by 585.9% in the 4th quarter. Oppenheimer & Co. Inc. now owns 62,699 shares of the insurance provider’s stock valued at $7,376,000 after purchasing an additional 53,558 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Allstate by 1.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,930 shares of the insurance provider’s stock valued at $8,463,000 after purchasing an additional 828 shares in the last quarter. Hedge funds and other institutional investors own 75.84% of the company’s stock.

Insider Buying and Selling

In related news, CEO Thomas J. Wilson sold 142,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $133.39, for a total value of $18,941,380.00. Following the sale, the chief executive officer now directly owns 99,828 shares of the company’s stock, valued at $13,316,056.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.77% of the company’s stock.

Allstate Price Performance

Allstate stock opened at $117.00 on Friday. The Allstate Co. has a 12-month low of $106.11 and a 12-month high of $144.46. The stock has a market capitalization of $31.63 billion, a P/E ratio of 40.77, a P/E/G ratio of 4.93 and a beta of 0.73. The firm’s 50-day moving average is $124.31 and its two-hundred day moving average is $127.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.40 and a quick ratio of 0.43.

Allstate (NYSE:ALLGet Rating) last released its earnings results on Wednesday, August 3rd. The insurance provider reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.27) by $0.51. Allstate had a net margin of 1.99% and a return on equity of 7.53%. During the same period in the previous year, the firm earned $3.79 EPS. Equities analysts predict that The Allstate Co. will post 5.28 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Wednesday, August 31st will be given a $0.85 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.91%. Allstate’s dividend payout ratio is presently 118.47%.

Wall Street Analyst Weigh In

ALL has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of Allstate in a report on Monday, May 23rd. They issued a “buy” rating and a $159.00 price target for the company. Piper Sandler lowered their price objective on shares of Allstate from $150.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, April 22nd. TheStreet cut shares of Allstate from a “b” rating to a “c+” rating in a research note on Wednesday. Argus cut shares of Allstate from a “buy” rating to a “hold” rating in a research note on Friday, May 20th. Finally, Wells Fargo & Company lowered their price objective on shares of Allstate from $116.00 to $110.00 and set an “underweight” rating on the stock in a research note on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and an average price target of $142.58.

Allstate Company Profile

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The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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