Teacher Retirement System of Texas Sells 189,147 Shares of Allstate Corp (ALL)
Teacher Retirement System of Texas cut its stake in shares of Allstate Corp (NYSE:ALL) by 60.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 123,540 shares of the insurance provider’s stock after selling 189,147 shares during the period. Teacher Retirement System of Texas’ holdings in Allstate were worth $12,936,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. APG Asset Management N.V. raised its position in shares of Allstate by 182.7% in the 3rd quarter. APG Asset Management N.V. now owns 3,368,436 shares of the insurance provider’s stock valued at $309,593,000 after purchasing an additional 2,176,800 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Allstate by 38.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,169,021 shares of the insurance provider’s stock valued at $291,264,000 after purchasing an additional 872,370 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Allstate by 22.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,210,943 shares of the insurance provider’s stock valued at $387,030,000 after purchasing an additional 769,761 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Allstate by 11.1% in the 3rd quarter. Wells Fargo & Company MN now owns 5,178,889 shares of the insurance provider’s stock valued at $475,991,000 after purchasing an additional 518,058 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Allstate by 13.2% in the 4th quarter. Bank of Montreal Can now owns 3,721,761 shares of the insurance provider’s stock valued at $389,706,000 after purchasing an additional 434,191 shares in the last quarter. 76.49% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Susan L. Lees sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $100.49, for a total value of $401,960.00. Following the completion of the sale, the executive vice president now directly owns 24,341 shares in the company, valued at approximately $2,446,027.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by insiders.
Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.56. Allstate had a return on equity of 12.57% and a net margin of 8.28%. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the previous year, the business earned $2.17 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. sell-side analysts predict that Allstate Corp will post 8.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.02%. This is an increase from Allstate’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, March 2nd. Allstate’s payout ratio is 17.68%.
A number of equities analysts have issued reports on ALL shares. Zacks Investment Research raised Allstate from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. UBS Group upped their target price on Allstate from $93.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, November 6th. Keefe, Bruyette & Woods lowered Allstate from a “market perform” rating to an “underperform” rating in a research report on Tuesday, January 2nd. Goldman Sachs Group started coverage on Allstate in a research report on Monday, December 4th. They issued a “neutral” rating and a $104.00 target price on the stock. Finally, Credit Suisse Group upped their target price on Allstate from $91.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $97.00.
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The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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