Louisiana State Employees Retirement System Purchases New Shares in The Allstate Corporation $ALL

Louisiana State Employees Retirement System bought a new position in shares of The Allstate Corporation (NYSE:ALL) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,200 shares of the insurance provider’s stock, valued at approximately $2,737,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kestra Private Wealth Services LLC increased its position in Allstate by 10.4% in the first quarter. Kestra Private Wealth Services LLC now owns 25,292 shares of the insurance provider’s stock worth $5,244,000 after purchasing an additional 2,373 shares during the period. Ritholtz Wealth Management lifted its position in Allstate by 7.8% during the 1st quarter. Ritholtz Wealth Management now owns 15,221 shares of the insurance provider’s stock valued at $3,156,000 after purchasing an additional 1,096 shares during the period. BTC Capital Management Inc. boosted its stake in shares of Allstate by 2.4% in the 1st quarter. BTC Capital Management Inc. now owns 29,495 shares of the insurance provider’s stock valued at $6,115,000 after purchasing an additional 701 shares during the last quarter. Blue Trust Inc. grew its position in shares of Allstate by 117.9% during the 1st quarter. Blue Trust Inc. now owns 5,151 shares of the insurance provider’s stock worth $1,068,000 after buying an additional 2,787 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of Allstate by 18.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,477 shares of the insurance provider’s stock worth $1,136,000 after buying an additional 853 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insider Activity at Allstate

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. The trade was a 5.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction dated 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 transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 22,353 shares of company stock valued at $4,851,560. Corporate insiders own 1.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Wall Street Zen downgraded Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Weiss Ratings restated a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. Finally, Barclays upped their price target on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research note on Wednesday, April 8th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $240.33.

Allstate Price Performance

ALL opened at $239.77 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $240.16. The company has a fifty day simple moving average of $217.68 and a 200 day simple moving average of $210.17. The stock has a market cap of $61.72 billion, a P/E ratio of 5.29, a P/E/G ratio of 0.42 and a beta of 0.19.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.53 EPS. On average, research analysts expect that The Allstate Corporation will post 29.75 EPS for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $1.08 per share. The ex-dividend date is Monday, June 1st. This represents a $4.32 annualized dividend and a yield of 1.8%. Allstate’s dividend payout ratio is presently 9.53%.

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.