Andra AP fonden Has $6.51 Million Stake in The Allstate Corporation $ALL

Andra AP fonden increased its position in shares of The Allstate Corporation (NYSE:ALL) by 26.6% during the first quarter, HoldingsChannel reports. The fund owned 31,399 shares of the insurance provider’s stock after buying 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.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. MV Capital Management Inc. acquired a new stake in shares of Allstate during the fourth quarter valued at about $25,000. Navalign LLC acquired a new position in shares of Allstate in the fourth quarter valued at approximately $27,000. Dorato Capital Management acquired a new position in shares of Allstate in the fourth quarter valued at approximately $27,000. Evolution Wealth Management Inc. raised its holdings in 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 buying an additional 140 shares during the last quarter. Finally, Palisade Asset Management LLC bought a new position in Allstate in the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

ALL stock opened at $252.10 on Thursday. The firm has a market cap of $64.90 billion, a price-to-earnings ratio of 5.56, a PEG ratio of 0.43 and a beta of 0.16. 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 12-month low of $188.08 and a 12-month high of $257.67. The company’s fifty day simple moving average is $229.54 and its 200 day simple moving average is $215.33.

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

Allstate Announces Dividend

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 paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ALL shares. HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and boosted their target price for the stock from $244.00 to $264.00 in a report on Monday, July 6th. Roth Capital reiterated a “buy” rating and set a $275.00 price target on shares of Allstate in a report on Friday, July 17th. Atlantic Securities set a $319.00 price objective on shares of Allstate in a research note on Wednesday, July 15th. UBS Group downgraded Allstate from a “buy” rating to a “neutral” rating and increased their price objective for the company from $255.00 to $261.00 in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods raised their target price on Allstate from $242.00 to $255.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $254.80.

Insiders Place Their Bets

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was 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 in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 22,353 shares of company stock worth $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.