State of Michigan Retirement System Buys 6,029 Shares of Allstate Corp (NYSE:ALL)

State of Michigan Retirement System boosted its stake in shares of Allstate Corp (NYSE:ALL) by 8.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 80,266 shares of the insurance provider’s stock after buying an additional 6,029 shares during the period. State of Michigan Retirement System’s holdings in Allstate were worth $7,785,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Invesco Ltd. lifted its stake in shares of Allstate by 1.1% during the 1st quarter. Invesco Ltd. now owns 4,055,327 shares of the insurance provider’s stock worth $371,995,000 after acquiring an additional 44,511 shares during the last quarter. APG Asset Management N.V. boosted its stake in shares of Allstate by 43.4% during the first quarter. APG Asset Management N.V. now owns 3,631,036 shares of the insurance provider’s stock valued at $304,556,000 after purchasing an additional 1,098,764 shares during the period. Deutsche Bank AG grew its holdings in shares of Allstate by 109.5% in the first quarter. Deutsche Bank AG now owns 2,987,166 shares of the insurance provider’s stock worth $274,013,000 after purchasing an additional 1,561,512 shares during the last quarter. Victory Capital Management Inc. increased its stake in Allstate by 11.2% in the 1st quarter. Victory Capital Management Inc. now owns 2,781,363 shares of the insurance provider’s stock worth $255,135,000 after buying an additional 280,537 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Allstate by 3.8% during the 1st quarter. Legal & General Group Plc now owns 2,727,656 shares of the insurance provider’s stock valued at $250,450,000 after buying an additional 101,018 shares in the last quarter. Institutional investors own 76.53% of the company’s stock.

NYSE ALL opened at $94.39 on Friday. The firm’s fifty day simple moving average is $93.76 and its two-hundred day simple moving average is $101.57. The firm has a market capitalization of $29.65 billion, a P/E ratio of 7.91, a P/E/G ratio of 1.15 and a beta of 0.88. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. Allstate Corp has a 12-month low of $64.13 and a 12-month high of $125.92.

Allstate (NYSE:ALL) last announced its earnings results on Tuesday, May 5th. The insurance provider reported $3.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.62. Allstate had a return on equity of 17.53% and a net margin of 9.38%. The firm had revenue of $9.24 billion for the quarter, compared to the consensus estimate of $9.64 billion. During the same period in the previous year, the business earned $2.30 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Allstate Corp will post 10.94 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, August 28th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $2.16 annualized dividend and a dividend yield of 2.29%. Allstate’s dividend payout ratio (DPR) is currently 20.71%.

In related news, CEO Thomas J. Wilson sold 652,868 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $101.32, for a total value of $66,148,585.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mario Rizzo sold 6,670 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $101.39, for a total value of $676,271.30. Following the completion of the transaction, the chief financial officer now owns 28,235 shares of the company’s stock, valued at approximately $2,862,746.65. The disclosure for this sale can be found here. Insiders sold a total of 664,021 shares of company stock valued at $67,275,235 over the last ninety days. 1.80% of the stock is currently owned by insiders.

A number of equities analysts have commented on the stock. Deutsche Bank upped their target price on shares of Allstate from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, May 15th. ValuEngine upgraded Allstate from a “strong sell” rating to a “sell” rating in a report on Saturday. Wells Fargo & Co reiterated a “hold” rating on shares of Allstate in a report on Tuesday, May 26th. TheStreet upgraded Allstate from a “c+” rating to a “b-” rating in a research note on Tuesday, April 21st. Finally, Raymond James upped their price objective on shares of Allstate from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Allstate has a consensus rating of “Buy” and a consensus price target of $115.47.

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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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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