BI Asset Management Fondsmaeglerselskab A S Sells 17,797 Shares of The Allstate Corporation $ALL

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in The Allstate Corporation (NYSE:ALL) by 8.3% in the first quarter, Holdings Channel reports. The fund owned 196,683 shares of the insurance provider’s stock after selling 17,797 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Allstate were worth $40,780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. MV Capital Management Inc. bought a new stake in Allstate during the fourth quarter worth approximately $25,000. Navalign LLC bought a new stake in shares of Allstate in the 4th quarter valued at approximately $27,000. Dorato Capital Management bought a new stake in shares of Allstate in the 4th quarter valued at approximately $27,000. Palisade Asset Management LLC purchased a new position in shares of Allstate in the 3rd quarter worth approximately $31,000. Finally, Princeton Global Asset Management LLC boosted its holdings in shares of Allstate by 101.3% in the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Transactions at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the transaction, the insider directly owned 27,558 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Also, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This represents a 18.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ALL shares. Weiss Ratings upgraded Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Barclays raised their price target on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 8th. Piper Sandler reiterated an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Wall Street Zen cut shares of Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $240.33.

Allstate Trading Down 0.2%

NYSE ALL opened at $220.72 on Friday. The company’s 50-day moving average price is $215.95 and its 200-day moving average price is $209.23. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock has a market cap of $56.82 billion, a PE ratio of 4.87, a PEG ratio of 0.40 and a beta of 0.18. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $227.62.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter last year, the firm posted $3.53 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts forecast that The Allstate Corporation will post 29.55 earnings per share for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. Allstate’s dividend payout ratio (DPR) is 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.