Retirement Systems of Alabama Has $36.93 Million Position in Allstate Corp (ALL)
Retirement Systems of Alabama boosted its position in Allstate Corp (NYSE:ALL) by 43.9% during the 4th quarter, HoldingsChannel reports. The fund owned 352,690 shares of the insurance provider’s stock after acquiring an additional 107,674 shares during the quarter. Retirement Systems of Alabama’s holdings in Allstate were worth $36,930,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Arrow Financial Corp raised its holdings in Allstate by 100.0% during the third quarter. Arrow Financial Corp now owns 1,106 shares of the insurance provider’s stock worth $102,000 after purchasing an additional 553 shares in the last quarter. Rational Advisors LLC acquired a new stake in Allstate during the fourth quarter worth approximately $126,000. Financial Engines Advisors L.L.C. acquired a new stake in Allstate during the third quarter worth approximately $116,000. Baker Ellis Asset Management LLC acquired a new stake in Allstate during the third quarter worth approximately $120,000. Finally, Resources Investment Advisors Inc. raised its holdings in Allstate by 71.1% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,340 shares of the insurance provider’s stock worth $140,000 after purchasing an additional 557 shares in the last quarter. 76.49% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. Deutsche Bank cut their price objective on shares of Allstate from $102.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, February 9th. Bank of America cut their price objective on shares of Allstate from $116.00 to $111.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Wells Fargo & Co set a $100.00 price objective on shares of Allstate and gave the stock a “hold” rating in a report on Thursday, February 8th. ValuEngine raised shares of Allstate from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research raised shares of Allstate from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Allstate currently has an average rating of “Hold” and an average price target of $97.00.
Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 7th. The insurance provider reported $2.09 EPS for the quarter, topping the consensus estimate of $1.53 by $0.56. The company had revenue of $8.20 billion for 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 EPS. sell-side analysts predict that Allstate Corp will post 8.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be given 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 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, March 2nd. Allstate’s payout ratio is presently 17.68%.
In other news, EVP Susan L. Lees sold 4,000 shares of Allstate stock in a transaction on Monday, November 20th. The stock was sold at an average price of $100.49, for a total transaction of $401,960.00. Following the completion of the transaction, the executive vice president now owns 24,341 shares of the company’s stock, valued at approximately $2,446,027.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is currently owned by insiders.
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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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