Sompo Japan Nipponkoa Asset Management CO. LTD. grew its holdings in Allstate Corp (NYSE:ALL) by 82.5% in the 1st quarter, HoldingsChannel reports. The firm owned 20,660 shares of the insurance provider’s stock after buying an additional 9,340 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Allstate were worth $1,895,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Archer Investment Corp bought a new stake in shares of Allstate in the 4th quarter valued at about $32,000. Braun Bostich & Associates Inc. bought a new stake in shares of Allstate in the 4th quarter valued at about $33,000. Keebeck Wealth Management LLC bought a new stake in shares of Allstate in the 4th quarter valued at about $36,000. Carmichael Hill & Associates Inc. bought a new stake in shares of Allstate in the 4th quarter valued at about $45,000. Finally, Retirement Network purchased a new position in shares of Allstate in the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 76.93% of the company’s stock.
Shares of ALL stock traded up $0.69 during trading hours on Friday, hitting $94.82. The company’s stock had a trading volume of 1,510,228 shares, compared to its average volume of 2,113,055. The company has a 50 day moving average of $98.24 and a 200 day moving average of $106.88. The stock has a market cap of $29.57 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 1.10 and a beta of 0.91. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. Allstate Corp has a 12-month low of $64.13 and a 12-month high of $125.92.
Allstate (NYSE:ALL) last released its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $3.54 EPS for the quarter, beating the consensus estimate of $2.92 by $0.62. The business had revenue of $9.24 billion for the quarter, compared to the consensus estimate of $9.64 billion. Allstate had a net margin of 9.38% and a return on equity of 17.53%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.30 EPS. As a group, analysts anticipate that Allstate Corp will post 11.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, May 29th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Thursday, May 28th. Allstate’s dividend payout ratio (DPR) is currently 20.71%.
In related news, CFO Mario Rizzo sold 6,670 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $101.39, for a total value of $676,271.30. Following the completion of the transaction, the chief financial officer now directly owns 28,235 shares in the company, valued at approximately $2,862,746.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas J. Wilson sold 652,868 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $101.32, for a total transaction of $66,148,585.76. The disclosure for this sale can be found here. Insiders sold a total of 662,238 shares of company stock worth $67,098,664 over the last ninety days. Insiders own 1.80% of the company’s stock.
A number of research analysts have recently issued reports on ALL shares. TheStreet raised shares of Allstate from a “c+” rating to a “b-” rating in a research report on Tuesday, April 21st. Deutsche Bank lifted their price objective on shares of Allstate from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, May 15th. Citigroup cut their price objective on shares of Allstate from $135.00 to $119.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Cfra cut their price objective on shares of Allstate from $135.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Finally, Raymond James lifted their price objective on shares of Allstate from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Allstate presently has a consensus rating of “Hold” and a consensus price target of $115.31.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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