State Board of Administration of Florida Retirement System Raises Stock Position in The Allstate Corporation $ALL

State Board of Administration of Florida Retirement System raised its position in The Allstate Corporation (NYSE:ALL) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 248,759 shares of the insurance provider’s stock after purchasing an additional 2,770 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.09% of Allstate worth $50,078,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. lifted its holdings in Allstate by 4.8% in the second quarter. Johnson Financial Group Inc. now owns 12,797 shares of the insurance provider’s stock valued at $2,588,000 after acquiring an additional 590 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in Allstate during the second quarter worth $584,000. Elevation Point Wealth Partners LLC raised its position in Allstate by 12.0% in the second quarter. Elevation Point Wealth Partners LLC now owns 3,275 shares of the insurance provider’s stock valued at $659,000 after purchasing an additional 350 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Allstate by 1.3% in the 2nd quarter. Quadrant Capital Group LLC now owns 7,106 shares of the insurance provider’s stock valued at $1,431,000 after purchasing an additional 92 shares during the last quarter. Finally, Copley Financial Group Inc. purchased a new position in shares of Allstate during the 2nd quarter worth $351,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

Shares of ALL opened at $213.39 on Friday. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $215.89. The firm’s 50 day moving average price is $204.68 and its 200 day moving average price is $202.44. The company has a market cap of $55.84 billion, a P/E ratio of 10.03, a PEG ratio of 0.69 and a beta of 0.35. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, beating the consensus estimate of $5.48 by $5.69. The company had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.91 EPS. On average, research analysts forecast that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, December 1st. Allstate’s payout ratio is presently 12.95%.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 600 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $215.02, for a total transaction of $129,012.00. Following the sale, the insider owned 100,646 shares in the company, valued at $21,640,902.92. This represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 24,271 shares of company stock worth $5,222,986. 1.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALL. Raymond James Financial restated a “strong-buy” rating and issued a $260.00 price objective (up from $250.00) on shares of Allstate in a report on Monday, August 4th. BMO Capital Markets boosted their price target on shares of Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings restated a “buy (b)” rating on shares of Allstate in a report on Wednesday, October 8th. Jefferies Financial Group lifted their target price on shares of Allstate from $254.00 to $255.00 and gave the company a “buy” rating in a report on Monday, August 11th. Finally, Wall Street Zen cut Allstate from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus target price of $237.92.

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.