Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $10.86 Million Holdings in The Allstate Co. (NYSE:ALL)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in The Allstate Co. (NYSE:ALL) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,305 shares of the insurance provider’s stock after selling 1,174 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Allstate were worth $10,855,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Apella Capital LLC boosted its holdings in shares of Allstate by 1.9% in the 4th quarter. Apella Capital LLC now owns 3,231 shares of the insurance provider’s stock valued at $623,000 after buying an additional 60 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in Allstate by 4.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,329 shares of the insurance provider’s stock valued at $252,000 after purchasing an additional 62 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in Allstate by 2.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock valued at $571,000 after purchasing an additional 62 shares during the last quarter. Mather Group LLC. lifted its holdings in Allstate by 1.7% during the 4th quarter. Mather Group LLC. now owns 3,616 shares of the insurance provider’s stock valued at $697,000 after purchasing an additional 62 shares during the last quarter. Finally, Angeles Wealth Management LLC lifted its holdings in Allstate by 4.6% during the 4th quarter. Angeles Wealth Management LLC now owns 1,403 shares of the insurance provider’s stock valued at $270,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Argus raised Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Barclays cut their price target on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Piper Sandler lifted their target price on Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their target price on Allstate from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Finally, Wells Fargo & Company lifted their target price on Allstate from $186.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Allstate presently has a consensus rating of “Moderate Buy” and an average target price of $217.94.

Allstate Stock Down 1.7 %

Shares of NYSE ALL opened at $206.60 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.36. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. The stock has a market capitalization of $54.76 billion, a P/E ratio of 12.16, a PEG ratio of 1.01 and a beta of 0.47. The stock’s fifty day moving average is $193.75 and its 200 day moving average is $193.07.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. Sell-side analysts forecast that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Monday, March 10th. This is a boost from Allstate’s previous quarterly dividend of $0.92. Allstate’s payout ratio is currently 23.54%.

Allstate announced that its board has authorized a stock buyback program on Wednesday, February 26th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Allstate

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $186.53, for a total value of $7,480,226.06. Following the transaction, the chief financial officer now owns 18,115 shares in the company, valued at $3,378,990.95. The trade was a 68.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

Allstate Company Profile

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.