California Public Employees Retirement System Sells 7,800 Shares of The Allstate Co. (NYSE:ALL)

California Public Employees Retirement System cut its position in The Allstate Co. (NYSE:ALL - Free Report) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,213,338 shares of the insurance provider's stock after selling 7,800 shares during the quarter. California Public Employees Retirement System owned about 0.46% of Allstate worth $233,919,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Allstate during the fourth quarter worth about $344,354,000. GQG Partners LLC increased its position in Allstate by 64.1% in the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock valued at $832,181,000 after acquiring an additional 1,685,694 shares during the period. Strategic Financial Concepts LLC raised its holdings in shares of Allstate by 15,062.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider's stock valued at $215,757,000 after purchasing an additional 1,111,748 shares during the period. Vanguard Group Inc. lifted its stake in shares of Allstate by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 32,635,424 shares of the insurance provider's stock valued at $6,291,783,000 after buying an additional 389,426 shares in the last quarter. Finally, National Pension Service grew its holdings in shares of Allstate by 69.7% during the fourth quarter. National Pension Service now owns 708,098 shares of the insurance provider's stock valued at $136,514,000 after buying an additional 290,858 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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Allstate Stock Up 0.9 %

NYSE:ALL traded up $1.77 during trading hours on Thursday, reaching $207.20. 971,665 shares of the company traded hands, compared to its average volume of 1,573,849. The Allstate Co. has a 1 year low of $156.66 and a 1 year high of $212.91. The stock has a market capitalization of $54.91 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.01 and a beta of 0.47. The business's 50-day moving average price is $196.94 and its two-hundred day moving average price is $194.28. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. Analysts predict that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate declared that its board has initiated a share buyback program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.93%. This is an increase from Allstate's previous quarterly dividend of $0.92. The ex-dividend date was Monday, March 10th. Allstate's dividend payout ratio (DPR) is presently 23.54%.

Insider Buying and Selling at Allstate

In other news, CFO Jesse E. Merten sold 40,102 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the completion of the transaction, the chief financial officer now directly owns 18,115 shares of the company's stock, valued at $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Evercore ISI raised Allstate from an "in-line" rating to an "outperform" rating in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on Allstate from $186.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods upped their price objective on shares of Allstate from $235.00 to $240.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Finally, Barclays lowered their price target on shares of Allstate from $187.00 to $183.00 and set an "underweight" rating for the company in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $219.80.

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.