Illinois Municipal Retirement Fund Has $34.10 Million Position in The Allstate Corporation $ALL

Illinois Municipal Retirement Fund raised its stake in The Allstate Corporation (NYSE:ALL) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 158,856 shares of the insurance provider’s stock after buying an additional 7,267 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of Allstate worth $34,098,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ALL. Avantax Advisory Services Inc. lifted its position in shares of Allstate by 3.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock worth $4,745,000 after acquiring an additional 704 shares during the period. Truist Financial Corp raised its stake in shares of Allstate by 4.7% in the third quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock valued at $26,501,000 after purchasing an additional 5,542 shares in the last quarter. Commonwealth Retirement Investments LLC lifted its position in Allstate by 103.5% in the second quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock worth $2,609,000 after purchasing an additional 6,590 shares during the period. Davis Capital Management acquired a new stake in Allstate during the third quarter worth $2,767,000. Finally, First Horizon Corp bought a new stake in Allstate in the 3rd quarter valued at $11,109,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Up 1.7%

Shares of ALL opened at $204.54 on Thursday. The company has a market capitalization of $53.52 billion, a P/E ratio of 5.36, a PEG ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a one year low of $176.00 and a one year high of $216.75. The business’s 50 day simple moving average is $203.43 and its 200-day simple moving average is $203.96. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.43.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. The firm had revenue of $14.57 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%.The business’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $7.67 EPS. As a group, sell-side analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $1.08 per share. This is a positive change from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. This represents a $4.32 annualized dividend and a yield of 2.1%. Allstate’s dividend payout ratio is currently 10.47%.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the sale, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 48,400 shares of company stock worth $10,313,256. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $220.00 price objective on shares of Allstate in a report on Thursday, February 5th. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Citigroup lifted their price objective on Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a report on Tuesday. Evercore set a $225.00 target price on Allstate in a report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. boosted their price target on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $239.35.

Allstate 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.