State of New Jersey Common Pension Fund D Sells 54,758 Shares of The Allstate Co. (NYSE:ALL)

State of New Jersey Common Pension Fund D reduced its position in shares of The Allstate Co. (NYSE:ALL) by 36.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,788 shares of the insurance provider’s stock after selling 54,758 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Allstate were worth $15,453,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALL. Rise Advisors LLC bought a new position in shares of Allstate during the 1st quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new stake in Allstate during the first quarter worth $26,000. Private Wealth Management Group LLC purchased a new position in Allstate in the fourth quarter worth $25,000. Versant Capital Management Inc grew its stake in Allstate by 70.9% in the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Finally, Family Firm Inc. purchased a new stake in shares of Allstate during the 2nd quarter valued at $38,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Up 1.2 %

ALL stock opened at $188.30 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $49.72 billion, a PE ratio of 41.57, a PEG ratio of 1.74 and a beta of 0.48. The Allstate Co. has a twelve month low of $108.16 and a twelve month high of $191.33. The stock has a 50-day simple moving average of $176.43 and a two-hundred day simple moving average of $169.04.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping the consensus estimate of $0.33 by $1.28. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company had revenue of $15.71 billion during the quarter, compared to analyst estimates of $14.04 billion. During the same quarter in the previous year, the firm earned ($4.42) earnings per share. Allstate’s revenue was up 12.4% on a year-over-year basis. On average, equities analysts predict that The Allstate Co. will post 15.16 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s payout ratio is 81.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. StockNews.com cut Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Piper Sandler lifted their price objective on Allstate from $188.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Keefe, Bruyette & Woods lifted their price objective on Allstate from $199.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, Bank of America lifted their price objective on Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $192.76.

Insider Transactions at Allstate

In other news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total transaction of $16,140,600.00. Following the completion of the transaction, the chief executive officer now owns 88,552 shares of the company’s stock, valued at $15,880,915.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Thomas J. Wilson sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $179.34, for a total value of $16,140,600.00. Following the completion of the sale, the chief executive officer now owns 88,552 shares in the company, valued at approximately $15,880,915.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,938 shares of company stock valued at $36,122,740. 1.80% of the stock is owned by corporate 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.