AMF Tjanstepension AB Buys 6,295 Shares of The Allstate Corporation $ALL

AMF Tjanstepension AB boosted its stake in The Allstate Corporation (NYSE:ALL) by 3.2% in the first quarter, Holdings Channel reports. The firm owned 203,131 shares of the insurance provider’s stock after purchasing an additional 6,295 shares during the quarter. AMF Tjanstepension AB’s holdings in Allstate were worth $42,117,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. MV Capital Management Inc. bought a new position in Allstate in the fourth quarter valued at approximately $25,000. Dorato Capital Management bought a new stake in Allstate during the fourth quarter worth $27,000. Navalign LLC acquired a new stake in shares of Allstate in the 4th quarter valued at $27,000. Evolution Wealth Management Inc. boosted its holdings in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Finally, Princeton Global Asset Management LLC increased its stake 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 valued at $31,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Stock Performance

Shares of ALL opened at $251.64 on Monday. The Allstate Corporation has a one year low of $188.08 and a one year high of $257.67. The company has a market cap of $64.78 billion, a PE ratio of 5.55, a P/E/G ratio of 0.44 and a beta of 0.16. The stock has a 50-day moving average of $224.15 and a 200-day moving average of $213.04. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last announced its quarterly earnings results 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 business had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the company earned $3.53 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts predict that The Allstate Corporation will post 29.99 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio is currently 9.53%.

Analysts Set New Price Targets

ALL has been the subject of several recent analyst reports. Raymond James Financial upped their price objective on Allstate from $260.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 6th. Citigroup lifted their target price on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Piper Sandler reiterated an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. Barclays lifted their target price on shares of Allstate from $203.00 to $213.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen lowered Allstate from a “buy” rating to a “hold” rating in a research report on Sunday. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and an average target price of $248.26.

Trending Headlines about Allstate

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Mizuho raised its price target on Allstate to $272 from $255 and kept an outperform rating, signaling confidence that the stock still has upside from recent levels.
• Positive Sentiment: Several recent articles argued that Allstate looks undervalued after earnings and may benefit from a relatively favorable catastrophe year, which could help underwriting results and profits.
• Neutral Sentiment: Allstate declared a quarterly dividend of $1.08 per share, reinforcing shareholder returns but not necessarily changing the near-term trading story.
• Neutral Sentiment: Comparative coverage versus Progressive and other insurance peers kept attention on Allstate’s valuation, but this was more of a relative-stock discussion than a direct catalyst.
• Negative Sentiment: Oklahoma Attorney General Gentner Drummond sued Allstate, alleging the insurer defrauded customers, adding a fresh legal overhang that could raise compliance and settlement concerns. Article Title
• Negative Sentiment: Allstate also drew attention after accusing Broadcom of auditing it because it ended its VMware/CA relationship, another sign of ongoing legal or contractual friction. Article Title

Insider Activity at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a 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 on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is owned by corporate 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.