Nordea Investment Management AB Lowers Holdings in The Allstate Corporation $ALL

Nordea Investment Management AB trimmed its stake in The Allstate Corporation (NYSE:ALL) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 325,493 shares of the insurance provider’s stock after selling 20,248 shares during the quarter. Nordea Investment Management AB’s holdings in Allstate were worth $68,106,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Allstate during the 2nd quarter valued at about $482,870,000. Swedbank AB raised its holdings in Allstate by 2,157.8% in the third quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock worth $184,969,000 after buying an additional 823,559 shares during the last quarter. Woodline Partners LP bought a new position in shares of Allstate in the third quarter worth approximately $148,641,000. Ameriprise Financial Inc. lifted its stake in shares of Allstate by 52.7% in the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock worth $279,062,000 after buying an additional 478,598 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in shares of Allstate during the third quarter valued at approximately $100,596,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Roth Mkm raised their price target on shares of Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allstate in a research report on Wednesday, January 21st. Morgan Stanley reiterated an “equal weight” rating and set a $215.00 target price (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. Keefe, Bruyette & Woods boosted their price target on Allstate from $254.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 10th. Finally, Zacks Research upgraded Allstate from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $237.94.

Insider Activity at Allstate

In related news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the sale, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Allstate Stock Up 1.0%

Shares of Allstate stock opened at $207.67 on Tuesday. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $216.75. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $204.23 and its 200 day moving average is $204.78. The company has a market cap of $53.90 billion, a price-to-earnings ratio of 5.44, a price-to-earnings-growth ratio of 0.42 and a beta of 0.23.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. The business had revenue of $17.35 billion during the quarter, compared to the consensus estimate of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.67 EPS. Research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a $1.08 dividend. This is an increase from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. Allstate’s dividend payout ratio (DPR) is 11.31%.

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.