New Mexico Educational Retirement Board Increases Position in Allstate Corp (ALL)
New Mexico Educational Retirement Board increased its holdings in Allstate Corp (NYSE:ALL) by 2.4% during the 4th quarter, Holdings Channel reports. The firm owned 34,684 shares of the insurance provider’s stock after buying an additional 800 shares during the period. New Mexico Educational Retirement Board’s holdings in Allstate were worth $3,632,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in ALL. APG Asset Management N.V. increased its position in Allstate by 182.7% in the third quarter. APG Asset Management N.V. now owns 3,368,436 shares of the insurance provider’s stock worth $309,593,000 after purchasing an additional 2,176,800 shares during the last quarter. Janus Henderson Group PLC increased its position in Allstate by 38.0% in the third quarter. Janus Henderson Group PLC now owns 3,169,021 shares of the insurance provider’s stock worth $291,264,000 after purchasing an additional 872,370 shares during the last quarter. Ameriprise Financial Inc. increased its position in Allstate by 22.4% in the third quarter. Ameriprise Financial Inc. now owns 4,210,943 shares of the insurance provider’s stock worth $387,030,000 after purchasing an additional 769,761 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Allstate by 11.1% during the third quarter. Wells Fargo & Company MN now owns 5,178,889 shares of the insurance provider’s stock worth $475,991,000 after buying an additional 518,058 shares during the period. Finally, Bank of Montreal Can boosted its stake in Allstate by 13.2% during the fourth quarter. Bank of Montreal Can now owns 3,721,761 shares of the insurance provider’s stock worth $389,706,000 after buying an additional 434,191 shares during the period. Institutional investors own 76.49% of the company’s stock.
Several research analysts have commented on the stock. Deutsche Bank dropped their price objective on shares of Allstate from $102.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, February 9th. Wells Fargo & Co set a $100.00 price objective on shares of Allstate and gave the stock a “hold” rating in a research note on Thursday, February 8th. Bank of America dropped their price objective on shares of Allstate from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. B. Riley reaffirmed a “neutral” rating on shares of Allstate in a research note on Monday, November 6th. Finally, ValuEngine raised shares of Allstate from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Allstate has an average rating of “Hold” and an average target price of $97.00.
Shares of Allstate Corp (NYSE ALL) opened at $92.13 on Wednesday. The stock has a market cap of $32,209.15, a price-to-earnings ratio of 13.52, a PEG ratio of 1.30 and a beta of 0.97. Allstate Corp has a one year low of $79.09 and a one year high of $105.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.26 and a current ratio of 0.25.
Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 7th. The insurance provider reported $2.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.56. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.09 billion. Allstate had a net margin of 8.28% and a return on equity of 12.57%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.17 earnings per share. sell-side analysts predict that Allstate Corp will post 8.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be paid a dividend of $0.46 per share. This is a positive change from Allstate’s previous quarterly dividend of $0.37. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, March 2nd. Allstate’s payout ratio is currently 17.68%.
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Allstate Company Profile
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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