New York State Teachers Retirement System Sells 8,252 Shares of The Allstate Co. (NYSE:ALL)

New York State Teachers Retirement System lessened its stake in The Allstate Co. (NYSE:ALL) by 3.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 230,213 shares of the insurance provider’s stock after selling 8,252 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Allstate worth $36,756,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Confluence Wealth Services Inc. lifted its holdings in shares of Allstate by 0.9% in the first quarter. Confluence Wealth Services Inc. now owns 7,547 shares of the insurance provider’s stock worth $1,306,000 after buying an additional 65 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Allstate by 1.9% in the fourth quarter. Brighton Jones LLC now owns 3,862 shares of the insurance provider’s stock worth $541,000 after buying an additional 71 shares in the last quarter. Versant Capital Management Inc raised its stake in Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Lodestone Wealth Management LLC raised its stake in Allstate by 4.8% during the second quarter. Lodestone Wealth Management LLC now owns 1,738 shares of the insurance provider’s stock valued at $277,000 after purchasing an additional 80 shares in the last quarter. Finally, St. Johns Investment Management Company LLC raised its stake in Allstate by 2.2% during the fourth quarter. St. Johns Investment Management Company LLC now owns 3,955 shares of the insurance provider’s stock valued at $554,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In other news, insider Suren Gupta sold 45,775 shares of Allstate stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the transaction, the insider now owns 89,930 shares in the company, valued at approximately $15,942,790.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the sale, the executive vice president now directly owns 19,163 shares in the company, valued at $3,431,901.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. Insiders have sold a total of 111,938 shares of company stock valued at $19,982,140 in the last 90 days. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ALL has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price target on shares of Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Bank of America increased their target price on shares of Allstate from $213.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Roth Mkm reissued a “buy” rating and issued a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. Finally, BMO Capital Markets upped their price target on shares of Allstate from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Allstate presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.94.

Allstate Price Performance

Allstate stock traded down $0.96 during trading on Friday, reaching $180.27. The company had a trading volume of 673,497 shares, compared to its average volume of 1,566,849. The firm’s 50-day simple moving average is $167.94 and its 200 day simple moving average is $166.09. The Allstate Co. has a 1-year low of $104.70 and a 1-year high of $184.30. The firm has a market capitalization of $47.58 billion, a PE ratio of 39.96, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.04 billion. During the same quarter last year, the company earned ($4.42) EPS. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities research analysts anticipate that The Allstate Co. will post 13.64 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a yield of 2.04%. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

About Allstate

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.