Daiwa Securities Group Inc. Raises Holdings in The Allstate Co. (NYSE:ALL)

Daiwa Securities Group Inc. raised its stake in shares of The Allstate Co. (NYSE:ALL) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,576 shares of the insurance provider’s stock after buying an additional 1,338 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Allstate were worth $3,300,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Allstate by 11.5% during the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after acquiring an additional 3,322,673 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Allstate by 123.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,540,295 shares of the insurance provider’s stock valued at $751,264,000 after purchasing an additional 3,064,105 shares in the last quarter. Cowa LLC acquired a new stake in shares of Allstate during the 1st quarter worth about $30,000. Norges Bank purchased a new stake in shares of Allstate during the fourth quarter worth about $190,865,000. Finally, Invesco Ltd. raised its position in shares of Allstate by 46.6% in the third quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock valued at $459,225,000 after buying an additional 1,311,095 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ALL shares. Evercore ISI raised their target price on shares of Allstate from $166.00 to $173.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler lifted their price objective on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. The Goldman Sachs Group upped their target price on Allstate from $164.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, March 25th. HSBC raised Allstate from a “hold” rating to a “buy” rating and raised their price target for the stock from $158.00 to $190.00 in a research note on Thursday, March 28th. Finally, TD Cowen started coverage on shares of Allstate in a report on Wednesday, January 10th. They set an “outperform” rating and a $193.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $173.71.

Allstate Stock Performance

NYSE:ALL opened at $172.96 on Friday. The firm’s fifty day simple moving average is $163.84 and its 200 day simple moving average is $147.29. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The Allstate Co. has a twelve month low of $100.57 and a twelve month high of $174.57. The firm has a market capitalization of $45.50 billion, a price-to-earnings ratio of -139.48, a PEG ratio of 0.41 and a beta of 0.52.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $1.95. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The company had revenue of $14.83 billion for the quarter, compared to analysts’ expectations of $12.69 billion. During the same quarter in the previous year, the firm posted ($1.36) earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts expect that The Allstate Co. will post 13.49 earnings per share for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Friday, March 1st. This is a boost from Allstate’s previous quarterly dividend of $0.89. Allstate’s dividend payout ratio is currently -296.77%.

Insider Activity

In other news, insider John E. Dugenske sold 31,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John E. Dugenske sold 31,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total value of $5,276,200.00. Following the completion of the transaction, the insider now owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total value of $637,880.00. Following the sale, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

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.