Danske Bank A S Makes New Investment in The Allstate Corporation $ALL

Danske Bank A S bought a new stake in The Allstate Corporation (NYSE:ALL) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 468,650 shares of the insurance provider’s stock, valued at approximately $100,596,000. Danske Bank A S owned 0.18% of Allstate as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ALL. Harbor Capital Advisors Inc. boosted its position in Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC increased its position in shares of Allstate by 112.3% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 73 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in shares of Allstate during the third quarter valued at about $31,000. Armstrong Advisory Group Inc. raised its position in Allstate by 72.0% in the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 67 shares during the period. Finally, South Plains Financial Inc. raised its position in Allstate by 41.5% in the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

Shares of ALL opened at $207.32 on Wednesday. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $216.75. The firm has a 50-day simple moving average of $204.57 and a 200-day simple moving average of $204.76. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $53.81 billion, a price-to-earnings ratio of 5.43, a price-to-earnings-growth ratio of 0.43 and a beta of 0.23.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The business had revenue of $17.35 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter in the previous year, the firm earned $7.67 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio is currently 11.31%.

Insiders Place Their Bets

In other Allstate news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the transaction, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

ALL has been the topic of several research analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $215.00 price objective (down from $245.00) on shares of Allstate in a report on Tuesday, December 16th. Citigroup raised their price objective on shares of Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Wells Fargo & Company dropped their price objective on shares of Allstate from $228.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, February 20th. Roth Mkm upped their target price on shares of Allstate from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $220.00 target price on shares of Allstate in a report on Thursday, February 5th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $238.88.

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.