California Public Employees Retirement System Sells 173,044 Shares of The Allstate Corporation $ALL

California Public Employees Retirement System decreased its holdings in shares of The Allstate Corporation (NYSE:ALL) by 14.5% during the second quarter, Holdings Channel.com reports. The firm owned 1,022,960 shares of the insurance provider’s stock after selling 173,044 shares during the period. California Public Employees Retirement System’s holdings in Allstate were worth $205,932,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ALL. Arlington Trust Co LLC increased its holdings in shares of Allstate by 261.8% in the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after buying an additional 89 shares during the last quarter. Clearstead Trust LLC lifted its holdings in shares of Allstate by 3,800.0% in the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 152 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Allstate by 315.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 126 shares in the last quarter. Hilltop National Bank bought a new stake in Allstate during the second quarter worth approximately $34,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Allstate during the second quarter worth approximately $39,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Performance

Shares of Allstate stock opened at $202.23 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average is $204.49 and its two-hundred day moving average is $202.44. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $215.89. The company has a market capitalization of $52.92 billion, a PE ratio of 6.55, a price-to-earnings-growth ratio of 0.38 and a beta of 0.25.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, topping the consensus estimate of $5.48 by $5.69. The business had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $3.91 earnings per share. As a group, analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, December 1st. Allstate’s payout ratio is 12.95%.

Analysts Set New Price Targets

ALL has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on Allstate from $254.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Jefferies Financial Group increased their price target on Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a report on Monday, August 11th. UBS Group lifted their price objective on shares of Allstate from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Evercore ISI set a $233.00 price objective on shares of Allstate and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Finally, Wolfe Research raised shares of Allstate to a “strong-buy” rating in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $237.92.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 21,871 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $215.21, for a total value of $4,706,857.91. Following the transaction, the insider directly owned 100,646 shares in the company, valued at $21,660,025.66. This represents a 17.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 28,807 shares of company stock valued at $6,198,726. 1.70% of the stock is owned by corporate insiders.

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.