Board of the Pension Protection Fund Cuts Holdings in The Allstate Corporation $ALL

Board of the Pension Protection Fund trimmed its position in The Allstate Corporation (NYSE:ALL) by 96.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 200 shares of the insurance provider’s stock after selling 5,700 shares during the quarter. Board of the Pension Protection Fund’s holdings in Allstate were worth $42,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ALL. Guerra Pan Advisors LLC grew its holdings in Allstate by 1.5% during the 2nd quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock valued at $690,000 after buying an additional 49 shares in the last quarter. South Plains Financial Inc. raised its holdings in shares of Allstate by 41.5% during the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 49 shares in the last quarter. Humankind Investments LLC raised its holdings in shares of Allstate by 4.5% during the 3rd quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock worth $256,000 after acquiring an additional 51 shares in the last quarter. Focus Financial Network Inc. boosted its position in shares of Allstate by 1.1% during the 3rd quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock valued at $1,012,000 after acquiring an additional 52 shares during the last quarter. Finally, L2 Asset Management LLC boosted its position in shares of Allstate by 4.8% during the 2nd quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock valued at $235,000 after acquiring an additional 53 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Up 0.9%

ALL stock opened at $205.91 on Friday. The Allstate Corporation has a 52 week low of $176.00 and a 52 week high of $216.75. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The firm has a 50-day simple moving average of $204.24 and a 200-day simple moving average of $204.77. The stock has a market capitalization of $53.44 billion, a P/E ratio of 5.39, a P/E/G ratio of 0.42 and a beta of 0.23.

Allstate (NYSE:ALL) last issued 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. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm had revenue of $17.35 billion for the quarter, compared to analyst estimates of $17.23 billion. During the same period last year, the company posted $7.67 EPS. Allstate’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. This is a boost from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. Allstate’s dividend payout ratio (DPR) is 11.31%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ALL shares. Citigroup boosted their price target on shares of Allstate from $216.00 to $221.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Keefe, Bruyette & Woods increased their price objective on shares of Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. Evercore set a $225.00 price objective on shares of Allstate in a research note on Wednesday, January 7th. Roth Mkm upped their target price on shares of Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 price target on shares of Allstate in a report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $237.94.

Insider Activity

In other news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the sale, the insider directly owned 100,646 shares of the company’s stock, valued at $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is owned by corporate insiders.

About Allstate

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.