New Mexico Educational Retirement Board Lowers Holdings in The Allstate Co. (NYSE:ALL)

New Mexico Educational Retirement Board decreased its stake in shares of The Allstate Co. (NYSE:ALL) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,634 shares of the insurance provider’s stock after selling 300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Allstate were worth $2,436,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ALL. Strategic Financial Concepts LLC raised its stake in shares of Allstate by 15,062.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider’s stock worth $215,757,000 after purchasing an additional 1,111,748 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in shares of Allstate by 18,472.5% in the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after purchasing an additional 1,047,019 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Allstate by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after purchasing an additional 472,040 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of Allstate in the third quarter worth $77,819,000. Finally, Los Angeles Capital Management LLC raised its stake in shares of Allstate by 688.4% in the third quarter. Los Angeles Capital Management LLC now owns 460,282 shares of the insurance provider’s stock worth $87,292,000 after purchasing an additional 401,901 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALL. Piper Sandler upped their price objective on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upped their price objective on Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. Barclays reduced their price objective on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Jefferies Financial Group upped their price objective on Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Evercore ISI upgraded Allstate from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

Allstate Price Performance

NYSE:ALL opened at $187.53 on Friday. The Allstate Co. has a 52 week low of $153.87 and a 52 week high of $209.88. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $49.66 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The stock’s 50-day moving average price is $190.91 and its 200-day moving average price is $189.63.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 EPS for the quarter, beating analysts’ consensus estimates of $5.40 by $2.27. Allstate had a return on equity of 28.20% and a net margin of 7.28%. As a group, equities analysts expect that The Allstate Co. will post 18.64 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the transaction, the chief financial officer now directly owns 18,115 shares in the company, valued at $3,378,990.95. The trade was a 68.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.

Allstate Company 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.