California State Teachers Retirement System Sells 10,828 Shares of The Allstate Corporation $ALL

California State Teachers Retirement System reduced its stake in The Allstate Corporation (NYSE:ALL) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 389,068 shares of the insurance provider’s stock after selling 10,828 shares during the quarter. California State Teachers Retirement System’s holdings in Allstate were worth $80,669,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Allstate in the 4th quarter worth approximately $531,294,000. GQG Partners LLC lifted its stake in shares of Allstate by 36.0% in the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after purchasing an additional 1,452,993 shares during the period. Franklin Resources Inc. boosted its position in shares of Allstate by 29.2% during the 4th quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after purchasing an additional 1,131,172 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Allstate by 1,766.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock worth $180,911,000 after purchasing an additional 822,583 shares during the period. Finally, Woodline Partners LP bought a new stake in Allstate in the third quarter worth approximately $148,641,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALL. Raymond James Financial boosted their price target on Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Monday, July 6th. Piper Sandler reissued an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Evercore set a $240.00 price target on shares of Allstate in a report on Friday, July 10th. Roth Capital reissued a “buy” rating and issued a $275.00 target price on shares of Allstate in a research report on Friday, July 17th. Finally, Barclays boosted their price target on shares of Allstate from $203.00 to $213.00 and gave the company an “underweight” rating in a research report on Tuesday, July 7th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $254.80.

Allstate Trading Up 0.6%

Shares of Allstate stock opened at $274.16 on Thursday. The company’s 50-day moving average price is $233.97 and its 200-day moving average price is $217.36. The company has a current ratio of 0.36, a quick 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 $277.22. The company has a market cap of $70.58 billion, a price-to-earnings ratio of 6.05, a PEG ratio of 0.47 and a beta of 0.16.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating the consensus estimate 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 net margin of 17.81% and a return on equity of 42.66%. Allstate’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.53 earnings per share. On average, equities analysts expect that The Allstate Corporation will post 30.69 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

Insider Activity

In related news, Director Andrea Redmond sold 2,225 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the sale, the director owned 2,225 shares in the company, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value 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. This represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 22,353 shares of company stock worth $4,851,560 in the last three months. Corporate insiders own 1.55% of the company’s stock.

About Allstate

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.