Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Allstate Corp (NYSE:ALL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,813 shares of the insurance provider’s stock, valued at approximately $563,000.
Other large investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its stake in Allstate by 8,063.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,165,142 shares of the insurance provider’s stock worth $38,000 after buying an additional 3,126,372 shares during the last quarter. Man Group plc boosted its stake in Allstate by 121.3% during the third quarter. Man Group plc now owns 2,391,444 shares of the insurance provider’s stock worth $236,035,000 after buying an additional 1,310,781 shares during the last quarter. Bank of Montreal Can boosted its stake in Allstate by 65.3% during the fourth quarter. Bank of Montreal Can now owns 2,957,927 shares of the insurance provider’s stock worth $244,414,000 after buying an additional 1,168,707 shares during the last quarter. Deutsche Bank AG boosted its stake in Allstate by 70.5% during the third quarter. Deutsche Bank AG now owns 2,305,880 shares of the insurance provider’s stock worth $227,584,000 after buying an additional 953,082 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its stake in Allstate by 120.9% during the third quarter. Federated Investors Inc. PA now owns 1,115,465 shares of the insurance provider’s stock worth $110,096,000 after buying an additional 610,526 shares during the last quarter. 79.43% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:ALL traded down $0.71 on Friday, reaching $96.72. The company’s stock had a trading volume of 2,533,063 shares, compared to its average volume of 1,567,858. Allstate Corp has a 12-month low of $77.00 and a 12-month high of $102.73. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $32.20 billion, a P/E ratio of 11.99, a P/E/G ratio of 1.27 and a beta of 0.82.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, February 28th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Wednesday, February 27th. This is an increase from Allstate’s previous quarterly dividend of $0.46. Allstate’s payout ratio is currently 24.78%.
A number of equities analysts have weighed in on the company. Credit Suisse Group lowered Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a research note on Monday, April 8th. Zacks Investment Research lowered Allstate from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Wells Fargo & Co reissued a “hold” rating and set a $94.00 price objective on shares of Allstate in a research note on Tuesday, March 12th. William Blair upgraded Allstate from an “underperform” rating to a “market perform” rating in a research report on Wednesday, February 6th. Finally, ValuEngine upgraded Allstate from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $101.50.
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Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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