Louisiana State Employees Retirement System Decreases Position in The Allstate Co. (NYSE:ALL)

Posted by Defense World Staff on Oct 2nd, 2023

Louisiana State Employees Retirement System lessened its stake in The Allstate Co. (NYSE:ALL – Free Report) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,300 shares of the insurance provider’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Allstate were worth $1,777,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ALL. Cowa LLC bought a new stake in shares of Allstate in the first quarter worth about $30,000. CVA Family Office LLC boosted its position in Allstate by 48.4% during the 1st quarter. CVA Family Office LLC now owns 282 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 92 shares in the last quarter. Chilton Capital Management LLC bought a new stake in shares of Allstate during the first quarter valued at approximately $33,000. Kalos Management Inc. bought a new position in Allstate in the first quarter worth $39,000. Finally, OLD Mission Capital LLC purchased a new position in Allstate during the fourth quarter valued at $41,000. 77.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ALL shares. StockNews.com started coverage on shares of Allstate in a report on Thursday, August 17th. They set a “hold” rating for the company. Morgan Stanley reissued an “equal weight” rating and set a $117.00 price target on shares of Allstate in a research report on Tuesday, August 1st. Barclays lowered their price objective on Allstate from $113.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Monday, August 14th. JPMorgan Chase & Co. reduced their target price on Allstate from $162.00 to $154.00 and set an “overweight” rating for the company in a report on Wednesday, August 2nd. Finally, Raymond James reduced their price target on shares of Allstate from $155.00 to $145.00 and set a “strong-buy” rating for the company in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $135.31.

Check Out Our Latest Stock Analysis on Allstate

Insider Buying and Selling at Allstate

In related news, Director Judith A. Sprieser sold 1,565 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $111.22, for a total value of $174,059.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Allstate Stock Performance

Shares of Allstate stock opened at $111.41 on Monday. The stock’s fifty day moving average is $109.68 and its two-hundred day moving average is $111.03. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $29.14 billion, a PE ratio of -10.76 and a beta of 0.57. The Allstate Co. has a 52 week low of $100.57 and a 52 week high of $142.15.

Allstate (NYSE:ALL – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported ($4.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.83) by ($0.59). The business had revenue of $13.98 billion for the quarter, compared to the consensus estimate of $12.30 billion. Allstate had a negative net margin of 4.80% and a negative return on equity of 14.69%. Allstate’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.76) earnings per share. As a group, analysts expect that The Allstate Co. will post -2.09 earnings per share for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be paid a dividend of $0.89 per share. The ex-dividend date is Wednesday, August 30th. This represents a $3.56 annualized dividend and a yield of 3.20%. Allstate’s dividend payout ratio (DPR) is -34.40%.

Allstate Profile

(Free Report)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.