Tredje AP fonden lifted its stake in shares of Allstate Corp (NYSE:ALL) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,008 shares of the insurance provider’s stock after acquiring an additional 893 shares during the quarter. Tredje AP fonden’s holdings in Allstate were worth $2,673,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. CAPROCK Group Inc. lifted its holdings in Allstate by 1.7% in the 4th quarter. CAPROCK Group Inc. now owns 5,942 shares of the insurance provider’s stock worth $671,000 after purchasing an additional 100 shares during the last quarter. Corient Capital Partners LLC raised its position in shares of Allstate by 2.9% in the fourth quarter. Corient Capital Partners LLC now owns 4,076 shares of the insurance provider’s stock valued at $459,000 after purchasing an additional 113 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Allstate by 2.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 5,182 shares of the insurance provider’s stock worth $476,000 after buying an additional 116 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of Allstate by 32.5% during the 4th quarter. Whittier Trust Co. now owns 477 shares of the insurance provider’s stock worth $54,000 after buying an additional 117 shares during the period. Finally, Palladium Partners LLC boosted its holdings in shares of Allstate by 4.2% during the 4th quarter. Palladium Partners LLC now owns 3,011 shares of the insurance provider’s stock worth $339,000 after buying an additional 120 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.
In other Allstate news, CFO Mario Rizzo sold 6,670 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $101.39, for a total value of $676,271.30. Following the sale, the chief financial officer now directly owns 28,235 shares in the company, valued at $2,862,746.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas J. Wilson sold 2,700 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $101.41, for a total value of $273,807.00. Following the transaction, the chief executive officer now owns 332,252 shares of the company’s stock, valued at $33,693,675.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 662,238 shares of company stock valued at $67,098,664. Corporate insiders own 1.80% of the company’s stock.
A number of research analysts have weighed in on the stock. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating and cut their target price for the stock from $122.00 to $119.00 in a research report on Monday, April 13th. Citigroup cut their price objective on Allstate from $135.00 to $119.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Argus increased their target price on Allstate from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Piper Sandler lifted their price target on Allstate from $90.00 to $101.00 and gave the stock an “overweight” rating in a research report on Monday, April 6th. Finally, Wells Fargo & Co lowered their price objective on shares of Allstate from $120.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $115.31.
ALL stock traded up $0.69 during midday trading on Friday, hitting $94.82. The stock had a trading volume of 1,510,228 shares, compared to its average volume of 2,113,055. Allstate Corp has a 52 week low of $64.13 and a 52 week high of $125.92. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The stock has a 50-day simple moving average of $98.24 and a 200 day simple moving average of $106.88. The firm has a market capitalization of $29.57 billion, a price-to-earnings ratio of 7.95, a P/E/G ratio of 1.10 and a beta of 0.91.
Allstate (NYSE:ALL) last announced its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $3.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.62. Allstate had a net margin of 9.38% and a return on equity of 17.53%. The company had revenue of $9.24 billion during the quarter, compared to analysts’ expectations of $9.64 billion. During the same quarter in the prior year, the company posted $2.30 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Allstate Corp will post 11.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, May 29th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.28%. The ex-dividend date is Thursday, May 28th. Allstate’s dividend payout ratio (DPR) is presently 20.71%.
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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