Swedbank AB Acquires New Position in The Allstate Co. (NYSE:ALL)

Swedbank AB bought a new stake in shares of The Allstate Co. (NYSE:ALL) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 31,674 shares of the insurance provider’s stock, valued at approximately $5,480,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Venturi Wealth Management LLC boosted its stake in Allstate by 152.7% during the 4th quarter. Venturi Wealth Management LLC now owns 278 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 168 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Allstate in the 4th quarter worth approximately $148,840,000. Arkadios Wealth Advisors lifted its stake in shares of Allstate by 5.8% in the 4th quarter. Arkadios Wealth Advisors now owns 4,033 shares of the insurance provider’s stock worth $565,000 after acquiring an additional 221 shares during the period. Nilsine Partners LLC acquired a new stake in shares of Allstate in the 4th quarter worth approximately $246,000. Finally, Allworth Financial LP lifted its stake in shares of Allstate by 2.6% in the 4th quarter. Allworth Financial LP now owns 11,368 shares of the insurance provider’s stock worth $1,591,000 after acquiring an additional 290 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Trading Down 0.3 %

Shares of ALL stock traded down $0.56 during trading hours on Friday, reaching $176.82. 1,699,634 shares of the stock traded hands, compared to its average volume of 1,456,058. The firm has a market capitalization of $46.69 billion, a PE ratio of 39.03, a PEG ratio of 1.86 and a beta of 0.48. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average price of $164.68 and a 200 day moving average price of $164.17. The Allstate Co. has a 1-year low of $104.29 and a 1-year high of $180.87.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $0.33 by $1.28. The firm had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($4.42) EPS. On average, equities research analysts forecast that The Allstate Co. will post 13.64 EPS for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, August 30th. Allstate’s dividend payout ratio is currently 81.24%.

Insider Buying and Selling at Allstate

In other Allstate news, insider Suren Gupta sold 45,775 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Allstate from $193.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. The Goldman Sachs Group increased their target price on shares of Allstate from $197.00 to $199.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Roth Mkm increased their target price on shares of Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Evercore ISI increased their target price on shares of Allstate from $166.00 to $173.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $194.00 target price on shares of Allstate in a research note on Friday, July 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $183.24.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.