State of New Jersey Common Pension Fund D reduced its holdings in Allstate Corp (NYSE:ALL) by 10.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 170,000 shares of the insurance provider’s stock after selling 20,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Allstate were worth $17,287,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Strategy Asset Managers LLC bought a new position in Allstate during the first quarter worth about $25,000. Legacy Advisors LLC bought a new position in Allstate during the first quarter worth about $29,000. Enterprise Financial Services Corp lifted its stake in Allstate by 85.1% during the first quarter. Enterprise Financial Services Corp now owns 385 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 177 shares during the period. Osborn Williams & Donohoe LLC bought a new position in Allstate during the first quarter worth about $38,000. Finally, Webster Bank N. A. lifted its stake in Allstate by 100.0% during the second quarter. Webster Bank N. A. now owns 400 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 200 shares during the period. 77.45% of the stock is currently owned by institutional investors.
ALL stock traded up $5.81 during trading on Wednesday, hitting $107.64. The company had a trading volume of 2,303,158 shares, compared to its average volume of 1,150,506. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.29 and a current ratio of 0.29. The company has a 50-day simple moving average of $102.47. Allstate Corp has a 12 month low of $77.00 and a 12 month high of $107.43. The company has a market cap of $34.27 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.43 and a beta of 0.81.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, August 29th. Allstate’s dividend payout ratio is presently 24.78%.
In other Allstate news, Director Judith A. Sprieser sold 2,225 shares of Allstate stock in a transaction on Friday, June 21st. The shares were sold at an average price of $102.63, for a total transaction of $228,351.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Susan L. Lees sold 30,189 shares of Allstate stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $102.26, for a total transaction of $3,087,127.14. Following the sale, the executive vice president now directly owns 62,854 shares of the company’s stock, valued at approximately $6,427,450.04. The disclosure for this sale can be found here. Insiders have sold a total of 54,703 shares of company stock valued at $5,593,860 in the last ninety days. Company insiders own 1.60% of the company’s stock.
ALL has been the subject of a number of analyst reports. Morgan Stanley raised their price target on shares of Allstate from $100.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Barclays raised their price target on shares of Allstate from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, July 1st. Credit Suisse Group cut shares of Allstate from a “neutral” rating to an “underperform” rating and cut their target price for the company from $100.00 to $94.00 in a research note on Thursday, July 11th. UBS Group lifted their target price on shares of Allstate from $102.00 to $106.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, Goldman Sachs Group upgraded shares of Allstate from a “neutral” rating to a “buy” rating and lifted their target price for the company from $106.00 to $110.00 in a research note on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $105.42.
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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