The Allstate Co. (NYSE:ALL) Stock Position Increased by State of Michigan Retirement System

State of Michigan Retirement System grew its position in The Allstate Co. (NYSE:ALL) by 0.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,889 shares of the insurance provider’s stock after purchasing an additional 200 shares during the period. State of Michigan Retirement System’s holdings in Allstate were worth $12,438,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Allstate by 11.5% in the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after purchasing an additional 3,322,673 shares in the last quarter. Norges Bank acquired a new stake in Allstate in the fourth quarter worth about $212,771,000. Palestra Capital Management LLC bought a new position in Allstate in the 4th quarter valued at about $83,561,000. Balyasny Asset Management L.P. acquired a new position in Allstate during the 4th quarter valued at about $81,571,000. Finally, Artemis Investment Management LLP bought a new stake in shares of Allstate during the 1st quarter worth about $95,764,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ALL shares. Wells Fargo & Company increased their price objective on shares of Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a report on Friday, May 10th. Piper Sandler increased their price target on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. The Goldman Sachs Group boosted their price objective on Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $194.00 target price on shares of Allstate in a research note on Friday, June 21st. Finally, Evercore ISI lifted their target price on Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.88.

Allstate Trading Down 0.3 %

Shares of ALL stock traded down $0.41 during trading hours on Tuesday, reaching $160.13. 1,245,793 shares of the stock traded hands, compared to its average volume of 1,597,147. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $42.26 billion, a PE ratio of 35.34, a PEG ratio of 1.88 and a beta of 0.48. The Allstate Co. has a 1-year low of $100.57 and a 1-year high of $177.37. The business has a fifty day moving average price of $165.57 and a 200 day moving average price of $160.33.

Allstate (NYSE:ALL) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $1.02. The company had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business earned ($1.30) EPS. On average, equities research analysts forecast that The Allstate Co. will post 12.15 EPS for the current year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, May 31st were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a yield of 2.30%. Allstate’s payout ratio is presently 81.24%.

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.