Kentucky Retirement Systems Insurance Trust Fund Cuts Stock Position in The Allstate Co. (NYSE:ALL)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in The Allstate Co. (NYSE:ALL) by 8.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 7,818 shares of the insurance provider’s stock after selling 694 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Allstate were worth $1,483,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. BDF Gestion purchased a new position in Allstate in the 2nd quarter valued at approximately $3,051,000. OFI Invest Asset Management purchased a new position in Allstate in the second quarter valued at $476,000. Cetera Investment Advisers grew its stake in Allstate by 351.6% during the 1st quarter. Cetera Investment Advisers now owns 65,221 shares of the insurance provider’s stock worth $11,284,000 after purchasing an additional 50,780 shares in the last quarter. Diversified Trust Co increased its holdings in Allstate by 505.3% during the 2nd quarter. Diversified Trust Co now owns 7,923 shares of the insurance provider’s stock worth $1,265,000 after purchasing an additional 6,614 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in Allstate by 97.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 271,464 shares of the insurance provider’s stock valued at $46,966,000 after purchasing an additional 134,028 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ALL. Piper Sandler boosted their price objective on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. TD Cowen increased their price objective on shares of Allstate from $193.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price objective on shares of Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Barclays boosted their target price on shares of Allstate from $175.00 to $187.00 and gave the stock an “underweight” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets raised their price target on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $214.19.

Insider Transactions at Allstate

In other news, EVP Robert Toohey sold 16,682 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the transaction, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at approximately $877,968.41. This represents a 77.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares in the company, valued at approximately $5,236,922.32. This trade represents a 57.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,049 shares of company stock worth $26,106,112. Company insiders own 1.80% of the company’s stock.

Allstate Trading Up 0.6 %

Shares of Allstate stock opened at $196.88 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $52.13 billion, a P/E ratio of 12.75, a PEG ratio of 1.75 and a beta of 0.48. The Allstate Co. has a 1 year low of $131.65 and a 1 year high of $201.00. The company’s fifty day moving average is $190.01 and its two-hundred day moving average is $176.77.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm had revenue of $16.63 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. Analysts forecast that The Allstate Co. will post 16.07 earnings per share for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a yield of 1.87%. Allstate’s payout ratio is currently 23.83%.

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.