Teacher Retirement System of Texas lessened its holdings in Allstate Corp (NYSE:ALL) by 71.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,853 shares of the insurance provider’s stock after selling 95,787 shares during the period. Teacher Retirement System of Texas’ holdings in Allstate were worth $3,659,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in ALL. American International Group Inc. lifted its stake in Allstate by 3.7% in the first quarter. American International Group Inc. now owns 186,745 shares of the insurance provider’s stock valued at $17,588,000 after buying an additional 6,588 shares during the period. SlateStone Wealth LLC increased its holdings in shares of Allstate by 62.3% during the first quarter. SlateStone Wealth LLC now owns 10,065 shares of the insurance provider’s stock valued at $948,000 after acquiring an additional 3,865 shares in the last quarter. Sawyer & Company Inc increased its holdings in shares of Allstate by 912.3% during the first quarter. Sawyer & Company Inc now owns 4,211 shares of the insurance provider’s stock valued at $397,000 after acquiring an additional 3,795 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Allstate by 17.4% during the first quarter. Toronto Dominion Bank now owns 229,655 shares of the insurance provider’s stock valued at $21,623,000 after acquiring an additional 34,093 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its holdings in shares of Allstate by 1.5% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 195,431 shares of the insurance provider’s stock valued at $18,406,000 after acquiring an additional 2,900 shares in the last quarter. Hedge funds and other institutional investors own 77.46% of the company’s stock.
NYSE:ALL traded down $0.36 during trading on Tuesday, reaching $100.43. The company’s stock had a trading volume of 1,457,152 shares, compared to its average volume of 2,019,571. The company has a market capitalization of $33.66 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.34 and a beta of 0.81. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.29 and a quick ratio of 0.29. Allstate Corp has a 12 month low of $77.00 and a 12 month high of $102.73.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.99%. Allstate’s dividend payout ratio is presently 24.78%.
Several equities research analysts have recently commented on ALL shares. Wells Fargo & Co restated a “hold” rating and set a $94.00 price objective on shares of Allstate in a report on Tuesday, March 12th. Zacks Investment Research downgraded Allstate from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Credit Suisse Group downgraded Allstate from an “outperform” rating to a “neutral” rating and set a $93.00 price target for the company. in a report on Monday, April 8th. UBS Group upped their price target on Allstate from $102.00 to $106.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Finally, Morgan Stanley upped their price target on Allstate from $94.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 21st. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Allstate currently has an average rating of “Hold” and a consensus target price of $102.42.
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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