Andra AP fonden Acquires 6,598 Shares of The Allstate Corporation $ALL

Andra AP fonden raised its holdings in shares of The Allstate Corporation (NYSE:ALL) by 26.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,399 shares of the insurance provider’s stock after purchasing an additional 6,598 shares during the quarter. Andra AP fonden’s holdings in Allstate were worth $6,510,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MV Capital Management Inc. acquired a new stake in Allstate during the fourth quarter worth approximately $25,000. Dorato Capital Management acquired a new position in shares of Allstate in the fourth quarter valued at approximately $27,000. Navalign LLC acquired a new position in shares of Allstate in the fourth quarter valued at approximately $27,000. Evolution Wealth Management Inc. increased its stake in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Allstate during the first quarter worth approximately $30,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on ALL. Evercore set a $240.00 price target on Allstate in a research note on Friday, July 10th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. JPMorgan Chase & Co. lifted their target price on Allstate from $263.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Citigroup boosted their target price on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Finally, Keefe, Bruyette & Woods raised their price target on shares of Allstate from $242.00 to $255.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $254.80.

Allstate Stock Up 0.1%

Shares of NYSE ALL opened at $252.10 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $257.67. The stock has a market capitalization of $64.90 billion, a P/E ratio of 5.56, a PEG ratio of 0.43 and a beta of 0.16. The stock’s fifty day moving average is $229.54 and its 200 day moving average is $215.33.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.53 earnings per share. Sell-side analysts forecast that The Allstate Corporation will post 30.51 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Insider Activity at Allstate

In related news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the transaction, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,353 shares of company stock valued at $4,851,560 over the last three months. 1.55% of the stock is owned by insiders.

About Allstate

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.