Oregon Public Employees Retirement Fund Boosts Stock Holdings in The Allstate Co. (NYSE:ALL)

Oregon Public Employees Retirement Fund grew its stake in shares of The Allstate Co. (NYSE:ALL) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,663 shares of the insurance provider’s stock after buying an additional 200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Allstate were worth $3,618,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALL. Bank of New York Mellon Corp grew its position in Allstate by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 5,112,468 shares of the insurance provider’s stock valued at $884,508,000 after acquiring an additional 90,390 shares during the period. Norges Bank acquired a new stake in Allstate during the 4th quarter worth approximately $212,771,000. Raymond James Financial Services Advisors Inc. raised its holdings in Allstate by 1.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 818,489 shares of the insurance provider’s stock valued at $130,680,000 after buying an additional 8,454 shares during the period. Russell Investments Group Ltd. raised its holdings in Allstate by 11.8% in the first quarter. Russell Investments Group Ltd. now owns 716,757 shares of the insurance provider’s stock valued at $123,574,000 after buying an additional 75,698 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Allstate by 1.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 687,386 shares of the insurance provider’s stock valued at $118,925,000 after buying an additional 6,760 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALL. Roth Mkm reissued a “buy” rating and issued a $200.00 target price on shares of Allstate in a research note on Wednesday, August 14th. Keefe, Bruyette & Woods raised their price objective on Allstate from $199.00 to $208.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. The Goldman Sachs Group upped their target price on Allstate from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Piper Sandler raised their target price on Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, TD Cowen boosted their price target on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $193.88.

Allstate Price Performance

ALL opened at $189.87 on Thursday. The company has a market capitalization of $50.11 billion, a P/E ratio of 41.91, a PEG ratio of 1.78 and a beta of 0.48. The company has a 50-day moving average of $172.74 and a 200-day moving average of $167.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Co. has a 1-year low of $105.85 and a 1-year high of $191.33.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. During the same period in the previous year, the company earned ($4.42) earnings per share. Allstate’s quarterly revenue was up 12.4% on a year-over-year basis. Equities analysts expect that The Allstate Co. will post 15.14 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio (DPR) is presently 81.24%.

Insiders Place Their Bets

In other news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now directly owns 89,930 shares in the company, valued at approximately $15,942,790.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Robert Toohey sold 16,682 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $180.17, for a total transaction of $3,005,595.94. Following the completion of the transaction, the executive vice president now directly owns 4,873 shares in the company, valued at approximately $877,968.41. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Suren Gupta sold 45,775 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. Insiders sold a total of 201,938 shares of company stock valued at $36,122,740 over the last 90 days. 1.80% of the stock is owned by company insiders.

About Allstate

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.