BI Asset Management Fondsmaeglerselskab A S Increases Stock Holdings in The Allstate Corporation $ALL

BI Asset Management Fondsmaeglerselskab A S grew its position in The Allstate Corporation (NYSE:ALL) by 117.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,480 shares of the insurance provider’s stock after buying an additional 116,025 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Allstate were worth $44,644,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Allstate during the fourth quarter valued at $531,294,000. Robeco Institutional Asset Management B.V. boosted its stake in Allstate by 1,766.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock worth $180,911,000 after buying an additional 822,583 shares during the last quarter. Woodline Partners LP acquired a new stake in Allstate in the 3rd quarter worth about $148,641,000. AustralianSuper Pty Ltd boosted its stake in Allstate by 80.6% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,220,984 shares of the insurance provider’s stock worth $254,148,000 after buying an additional 544,874 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Allstate by 542.3% in the 4th quarter. LSV Asset Management now owns 631,005 shares of the insurance provider’s stock worth $131,344,000 after buying an additional 532,770 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insiders Place Their Bets

In other news, Director Andrea Redmond sold 2,225 shares of Allstate stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares in the company, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the transaction, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,353 shares of company stock worth $4,851,560 in the last three months. 1.55% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALL. Wall Street Zen lowered Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Wells Fargo & Company raised their price objective on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Raymond James Financial restated a “strong-buy” rating and issued a $260.00 price objective on shares of Allstate in a report on Tuesday, March 3rd. The Goldman Sachs Group restated a “neutral” rating and issued a $231.00 price objective on shares of Allstate in a report on Thursday, March 5th. Finally, Barclays raised their price objective on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a report on Wednesday, April 8th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $241.67.

Allstate Price Performance

ALL stock opened at $220.98 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $227.62. The stock’s 50 day moving average is $213.31 and its two-hundred day moving average is $208.65. The company has a market capitalization of $56.88 billion, a PE ratio of 4.87, a P/E/G ratio of 0.38 and a beta of 0.18.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the business earned $3.53 EPS. Allstate’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts predict that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $1.08 per share. The ex-dividend date is Monday, June 1st. This represents a $4.32 annualized dividend and a yield of 2.0%. Allstate’s payout ratio is currently 9.53%.

Allstate Company 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.