Maryland State Retirement & Pension System Buys 546 Shares of The Allstate Corporation $ALL

Maryland State Retirement & Pension System raised its stake in The Allstate Corporation (NYSE:ALL) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,826 shares of the insurance provider’s stock after buying an additional 546 shares during the period. Maryland State Retirement & Pension System’s holdings in Allstate were worth $2,582,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Shell Asset Management Co. grew its holdings in shares of Allstate by 18.7% during the 2nd quarter. Shell Asset Management Co. now owns 30,430 shares of the insurance provider’s stock valued at $6,126,000 after purchasing an additional 4,796 shares during the last quarter. Joel Isaacson & Co. LLC grew its holdings in shares of Allstate by 10.3% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 1,245 shares of the insurance provider’s stock valued at $251,000 after purchasing an additional 116 shares during the last quarter. KLP Kapitalforvaltning AS boosted its position in Allstate by 8.6% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 94,968 shares of the insurance provider’s stock valued at $19,199,000 after buying an additional 7,500 shares during the period. RMG Wealth Management LLC purchased a new stake in Allstate during the 2nd quarter valued at $246,000. Finally, Seamount Financial Group Inc. purchased a new stake in Allstate during the 2nd quarter valued at $233,000. Institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Raymond James Financial reissued a “strong-buy” rating and set a $260.00 price target (up previously from $250.00) on shares of Allstate in a research report on Monday, August 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Allstate from $235.00 to $254.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group increased their price target on shares of Allstate from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley increased their price target on shares of Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $234.50.

Allstate Trading Down 1.6%

Shares of NYSE ALL opened at $205.59 on Friday. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.70. The stock has a market cap of $54.18 billion, a P/E ratio of 9.67, a price-to-earnings-growth ratio of 0.80 and a beta of 0.38. The firm has a 50-day moving average of $206.06 and a 200 day moving average of $201.13. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $2.74. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company had revenue of $15.05 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same period last year, the company posted $1.61 EPS. Allstate’s revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, August 29th. Allstate’s dividend payout ratio (DPR) is currently 18.81%.

Allstate 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.