E. Ohman J or Asset Management AB Makes New $1.94 Million Investment in The Allstate Corporation $ALL

E. Ohman J or Asset Management AB bought a new stake in shares of The Allstate Corporation (NYSE:ALL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,332 shares of the insurance provider’s stock, valued at approximately $1,942,000.

A number of other hedge funds have also modified their holdings of ALL. Truist Financial Corp grew its stake in Allstate by 4.7% in the third quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider’s stock valued at $26,501,000 after purchasing an additional 5,542 shares in the last quarter. Davis Capital Management acquired a new position in Allstate in the 3rd quarter worth about $2,767,000. First Horizon Corp purchased a new stake in shares of Allstate during the 3rd quarter worth about $11,109,000. McGowan Group Asset Management Inc. lifted its holdings in shares of Allstate by 1,020.8% during the 2nd quarter. McGowan Group Asset Management Inc. now owns 34,666 shares of the insurance provider’s stock valued at $6,979,000 after buying an additional 31,573 shares during the last quarter. Finally, Coastal Bridge Advisors LLC lifted its holdings in shares of Allstate by 530.6% during the 3rd quarter. Coastal Bridge Advisors LLC now owns 18,174 shares of the insurance provider’s stock valued at $3,901,000 after buying an additional 15,292 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, February 10th. Raymond James Financial reissued a “strong-buy” rating and issued a $260.00 target price on shares of Allstate in a research report on Tuesday, March 3rd. Wells Fargo & Company decreased their price objective on shares of Allstate from $228.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, February 20th. William Blair cut Allstate from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Finally, Roth Mkm upped their price target on Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Four equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $237.94.

Allstate Stock Down 0.2%

ALL stock opened at $207.36 on Wednesday. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $216.75. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The company has a market cap of $53.82 billion, a PE ratio of 5.43, a price-to-earnings-growth ratio of 0.42 and a beta of 0.23. The business’s 50-day simple moving average is $204.42 and its 200 day simple moving average is $204.82.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The firm had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $17.23 billion. During the same quarter in the prior year, the firm posted $7.67 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $1.08 dividend. The ex-dividend date is Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. Allstate’s dividend payout ratio is currently 11.31%.

Allstate Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.