The Allstate Co. (NYSE:ALL) Shares Sold by NJ State Employees Deferred Compensation Plan

NJ State Employees Deferred Compensation Plan reduced its holdings in shares of The Allstate Co. (NYSE:ALL) by 41.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,610 shares of the insurance provider’s stock after selling 6,700 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Allstate were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Allstate by 11.5% during the 3rd quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after purchasing an additional 3,322,673 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Allstate by 46.6% during the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after purchasing an additional 1,311,095 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in Allstate by 23.0% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock valued at $466,163,000 after purchasing an additional 782,696 shares during the period. Nordea Investment Management AB boosted its holdings in Allstate by 49.5% in the third quarter. Nordea Investment Management AB now owns 1,640,174 shares of the insurance provider’s stock valued at $183,388,000 after purchasing an additional 542,842 shares during the last quarter. Finally, Morgan Stanley grew its position in Allstate by 16.9% during the 3rd quarter. Morgan Stanley now owns 3,701,607 shares of the insurance provider’s stock worth $412,396,000 after purchasing an additional 536,137 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALL. TheStreet upgraded Allstate from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. TD Cowen assumed coverage on shares of Allstate in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $193.00 price objective for the company. Keefe, Bruyette & Woods raised their target price on Allstate from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company upped their price target on Allstate from $145.00 to $146.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Finally, HSBC raised Allstate from a “hold” rating to a “buy” rating and raised their price objective for the company from $158.00 to $190.00 in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.71.

Allstate Trading Down 1.3 %

Shares of NYSE ALL traded down $2.27 during mid-day trading on Friday, reaching $170.07. 1,243,259 shares of the company’s stock were exchanged, compared to its average volume of 1,676,035. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $176.93. The company’s 50-day moving average is $164.92 and its 200-day moving average is $148.75. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, topping the consensus estimate of $3.87 by $1.95. Allstate had a negative net margin of 0.33% and a positive return on equity of 2.67%. The firm had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. During the same period in the prior year, the business posted ($1.36) EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts forecast that The Allstate Co. will post 13.44 earnings per share for the current year.

Allstate Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.92 dividend. The ex-dividend date was Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.16%. Allstate’s payout ratio is presently -296.77%.

Insider Activity at Allstate

In related news, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Allstate news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the sale, the insider now directly owns 63,731 shares in the company, valued at approximately $10,847,016.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO John C. Pintozzi sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The disclosure for this sale can be found here. 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.