Daiwa Securities Group Inc. Grows Stock Position in The Allstate Corporation $ALL

Daiwa Securities Group Inc. increased its holdings in shares of The Allstate Corporation (NYSE:ALL) by 25.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 82,666 shares of the insurance provider’s stock after purchasing an additional 16,676 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Allstate were worth $17,207,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Navalign LLC purchased a new position in Allstate during the fourth quarter worth about $27,000. Dorato Capital Management purchased a new position in Allstate during the fourth quarter worth about $27,000. Palisade Asset Management LLC acquired a new stake in Allstate during the third quarter worth about $31,000. Princeton Global Asset Management LLC increased its stake in Allstate by 101.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 76 shares during the last quarter. Finally, South Plains Financial Inc. increased its stake in Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 49 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Price Performance

ALL stock opened at $220.98 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $227.62. The firm has a market cap of $56.88 billion, a P/E ratio of 4.87, a price-to-earnings-growth ratio of 0.38 and a beta of 0.18. The stock has a 50-day simple moving average of $213.31 and a 200-day simple moving average of $208.65.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating 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 business had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter last year, the firm earned $3.53 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts predict that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Dividend Announcement

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 paid a $1.08 dividend. The ex-dividend date 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%.

Insider Activity

In other news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ALL shares. Wells Fargo & Company upped their price target on Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Zacks Research lowered Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Piper Sandler restated an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. Barclays upped their price target on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 8th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $260.00 price target on shares of Allstate in a research note on Tuesday, March 3rd. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $241.67.

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.