Railway Pension Investments Ltd Takes Position in The Allstate Corporation $ALL

Railway Pension Investments Ltd bought a new stake in shares of The Allstate Corporation (NYSE:ALL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 29,800 shares of the insurance provider’s stock, valued at approximately $7,091,000.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Allstate during the 2nd quarter worth approximately $5,439,448,000. Bank of America Corp DE acquired a new stake in shares of Allstate in the 2nd quarter valued at $1,410,362,000. GQG Partners LLC acquired a new position in shares of Allstate during the second quarter worth $1,245,710,000. Deutsche Bank AG purchased a new position in Allstate in the second quarter valued at $1,008,648,000. Finally, Norges Bank acquired a new stake in Allstate in the fourth quarter valued at $531,294,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Down 0.8%

Allstate stock opened at $258.38 on Tuesday. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $277.22. The stock has a market cap of $65.33 billion, a price-to-earnings ratio of 5.16, a PEG ratio of 0.40 and a beta of 0.16. The company’s 50-day moving average price is $254.86 and its two-hundred day moving average price is $227.40. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. The firm had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.94 earnings per share. On average, analysts expect that The Allstate Corporation will post 34.45 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s payout ratio is currently 8.63%.

Insider Transactions at Allstate

In other Allstate news, insider John E. Dugenske sold 32,996 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the sale, the insider directly owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Argus set a $238.00 price objective on shares of Allstate in a research note on Friday. Weiss Ratings cut Allstate from a “buy (a)” rating to a “buy (a-)” rating in a report on Tuesday, August 25th. Mizuho lifted their price target on shares of Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $250.00 price objective (down from $255.00) on shares of Allstate in a research note on Thursday, August 20th. Finally, Wall Street Zen raised shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $263.90.

Allstate Company 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.