Louisiana State Employees Retirement System Purchases Shares of 13,200 The Allstate Corporation $ALL

Louisiana State Employees Retirement System purchased a new position in shares of The Allstate Corporation (NYSE:ALL) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,200 shares of the insurance provider’s stock, valued at approximately $2,737,000.

Several other institutional investors and hedge funds have also made changes to their positions in ALL. MV Capital Management Inc. acquired a new stake in Allstate during the 4th quarter worth $25,000. Navalign LLC purchased a new position in Allstate in the fourth quarter worth $27,000. Dorato Capital Management acquired a new stake in shares of Allstate in the fourth quarter valued at about $27,000. Palisade Asset Management LLC acquired a new stake in shares of Allstate during the 3rd quarter valued at approximately $31,000. Finally, Princeton Global Asset Management LLC boosted its position in Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 76 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. This represents a 18.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,353 shares of company stock valued at $4,851,560 in the last quarter. Insiders own 1.55% of the company’s stock.

Allstate Stock Up 0.1%

Shares of Allstate stock opened at $239.77 on Monday. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $240.16. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a market cap of $61.72 billion, a P/E ratio of 5.29, a P/E/G ratio of 0.42 and a beta of 0.19. The stock has a 50-day moving average price of $217.68 and a 200 day moving average price of $210.17.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating the consensus estimate of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. Allstate’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.53 EPS. As a group, analysts expect that The Allstate Corporation will post 29.75 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $1.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 1.8%. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ALL. Keefe, Bruyette & Woods downgraded Allstate from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $266.00 to $242.00 in a research report on Monday, June 8th. Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Barclays raised their price target on shares of Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 8th. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a research report on Tuesday, March 3rd. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $240.33.

Allstate Company 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.