Employees Retirement System of Texas Increases Stock Position in The Allstate Co. (NYSE:ALL)

Employees Retirement System of Texas grew its position in shares of The Allstate Co. (NYSE:ALL) by 27.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,392 shares of the insurance provider’s stock after purchasing an additional 13,003 shares during the period. Employees Retirement System of Texas’ holdings in Allstate were worth $11,643,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ALL. Intrust Bank NA lifted its stake in shares of Allstate by 0.5% in the 4th quarter. Intrust Bank NA now owns 12,135 shares of the insurance provider’s stock valued at $2,340,000 after purchasing an additional 61 shares during the last quarter. Perigon Wealth Management LLC lifted its position in shares of Allstate by 2.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,990 shares of the insurance provider’s stock worth $571,000 after purchasing an additional 62 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Allstate by 1.7% during the fourth 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 period. Angeles Wealth Management LLC boosted its stake in shares of Allstate by 4.6% during the fourth 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 period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Allstate by 4.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,505 shares of the insurance provider’s stock worth $290,000 after purchasing an additional 63 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

Allstate Stock Performance

Shares of ALL opened at $203.39 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The firm has a market cap of $53.86 billion, a PE ratio of 11.97, a P/E/G ratio of 1.01 and a beta of 0.32. The Allstate Co. has a 12 month low of $156.66 and a 12 month high of $212.91. The stock has a fifty day moving average price of $199.58 and a 200-day moving average price of $196.44.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.98 by ($0.45). Allstate had a net margin of 7.28% and a return on equity of 28.20%. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $16.41 billion. During the same period in the prior year, the company earned $5.13 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts predict that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Allstate Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a $1.00 dividend. This is a positive change from Allstate’s previous quarterly dividend of $0.92. This represents a $4.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Monday, March 10th. Allstate’s dividend payout ratio (DPR) is presently 27.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ALL shares. Raymond James restated a “strong-buy” rating and issued a $250.00 target price (up from $240.00) on shares of Allstate in a research note on Monday, May 5th. Evercore ISI increased their price objective on Allstate from $227.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Argus upgraded Allstate from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. BMO Capital Markets reiterated an “outperform” rating on shares of Allstate in a report on Friday, May 16th. Finally, Wells Fargo & Company cut their price target on Allstate from $200.00 to $197.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average price target of $225.20.

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.