National Pension Service Sells 485,530 Shares of The Allstate Corporation $ALL

National Pension Service reduced its holdings in shares of The Allstate Corporation (NYSE:ALL) by 51.8% during the fourth quarter, HoldingsChannel reports. The firm owned 451,562 shares of the insurance provider’s stock after selling 485,530 shares during the period. National Pension Service’s holdings in Allstate were worth $93,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALL. Brighton Jones LLC lifted its holdings in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock valued at $1,253,000 after purchasing an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Allstate during the fourth quarter valued at $231,000. WINTON GROUP Ltd bought a new position in shares of Allstate during the second quarter valued at $210,000. Treasurer of the State of North Carolina lifted its holdings in shares of Allstate by 2.5% during the second quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider’s stock valued at $24,816,000 after purchasing an additional 3,051 shares in the last quarter. Finally, Ieq Capital LLC lifted its holdings in shares of Allstate by 20.1% during the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider’s stock valued at $7,713,000 after purchasing an additional 6,412 shares in the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Stock Down 0.4%

Allstate stock opened at $206.51 on Friday. The stock has a market cap of $53.16 billion, a PE ratio of 4.56, a price-to-earnings-growth ratio of 0.37 and a beta of 0.21. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a one year low of $188.08 and a one year high of $227.62. The stock has a fifty day moving average of $212.70 and a 200 day moving average of $208.55.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.53 earnings per share. As a group, sell-side analysts predict that The Allstate Corporation will post 29.11 EPS for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, June 1st. Allstate’s dividend payout ratio is 9.53%.

Key Headlines Impacting Allstate

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate remains fundamentally strong after its latest quarter, with earnings per share and revenue both beating expectations, which supports the bull case for the stock. Insider Selling: Allstate (NYSE:ALL) Insider Sells 1,550 Shares of Stock
• Positive Sentiment: Several analyst and research notes continue to frame Allstate as undervalued or fairly attractive, and the stock still carries a moderate buy consensus with a higher average price target. Allstate (ALL) Down 4.6% Since Last Earnings Report: Can It Rebound?
• Neutral Sentiment: Allstate announced estimated April catastrophe losses of $870 million pre-tax, which is a reminder that weather-related claims can create earnings volatility and may temper sentiment near term. Is Allstate (ALL) the Most Undervalued Stock to Invest In?
• Neutral Sentiment: A consumer-focused article highlighting car insurance for road trips is not a direct company-specific catalyst, but it keeps attention on auto insurance demand and the broader insurance category. Driving instead of flying? Here’s the best car insurance for road trips
• Negative Sentiment: One insider sold 1,550 shares, and while the sale was small relative to the company, insider selling can weigh on short-term sentiment. Insider Selling: Allstate (NYSE:ALL) Insider Sells 1,550 Shares of Stock

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALL. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $220.00 price target on shares of Allstate in a report on Thursday, February 5th. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Wells Fargo & Company upped their price target on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Keefe, Bruyette & Woods upped their price objective on Allstate from $260.00 to $266.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Finally, Mizuho reduced their price objective on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $241.67.

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 stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their position. The SEC filing for this sale provides additional information. 1.55% of the stock is currently owned by corporate insiders.

Allstate 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.