Teacher Retirement System of Texas Acquires 188,753 Shares of The Allstate Co. (NYSE:ALL)

Teacher Retirement System of Texas increased its position in shares of The Allstate Co. (NYSE:ALL - Free Report) by 116.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 351,206 shares of the insurance provider's stock after acquiring an additional 188,753 shares during the period. Teacher Retirement System of Texas owned about 0.13% of Allstate worth $67,709,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. VSM Wealth Advisory LLC bought a new position in Allstate in the 4th quarter valued at approximately $25,000. FSA Wealth Management LLC bought a new position in Allstate in the 3rd quarter valued at approximately $26,000. Twin Tree Management LP bought a new position in Allstate in the 4th quarter valued at approximately $27,000. Vision Financial Markets LLC bought a new position in Allstate in the 4th quarter valued at approximately $29,000. Finally, Hopwood Financial Services Inc. bought a new position in Allstate in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction on Monday, February 10th. The shares were sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the sale, the chief financial officer now directly owns 18,115 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

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Allstate Trading Down 1.7 %

NYSE ALL traded down $3.58 during mid-day trading on Friday, reaching $206.60. 2,886,777 shares of the stock were exchanged, compared to its average volume of 1,504,505. The Allstate Co. has a one year low of $156.66 and a one year high of $212.91. The stock has a 50 day simple moving average of $193.75 and a 200-day simple moving average of $193.07. The stock has a market cap of $54.76 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.01 and a beta of 0.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.36 and a quick ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, topping analysts' consensus estimates of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. On average, analysts anticipate that The Allstate Co. will post 18.74 EPS for the current year.

Allstate announced that its board has authorized a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the insurance provider to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $1.00 dividend. This is an increase from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a yield of 1.94%. The ex-dividend date is Monday, March 10th. Allstate's payout ratio is 23.54%.

Analyst Ratings Changes

Several brokerages recently commented on ALL. Piper Sandler increased their price objective on shares of Allstate from $206.00 to $244.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Wells Fargo & Company increased their price objective on shares of Allstate from $186.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 14th. Evercore ISI raised shares of Allstate from an "in-line" rating to an "outperform" rating in a research note on Wednesday, January 8th. Barclays dropped their price target on shares of Allstate from $187.00 to $183.00 and set an "underweight" rating for the company in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised their price target 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $217.94.

Allstate 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.