Oslo Pensjonsforsikring AS purchased a new stake in shares of The Allstate Corporation (NYSE:ALL – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 156,841 shares of the insurance provider’s stock, valued at approximately $32,519,000. Allstate comprises about 5.1% of Oslo Pensjonsforsikring AS’s investment portfolio, making the stock its 4th biggest position. Oslo Pensjonsforsikring AS owned approximately 0.06% of Allstate at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MV Capital Management Inc. bought a new position in Allstate in the 4th quarter valued at about $25,000. Navalign LLC bought a new stake in shares of Allstate during the fourth quarter worth approximately $27,000. Dorato Capital Management acquired a new position in shares of Allstate in the fourth quarter valued at approximately $27,000. Evolution Wealth Management Inc. increased its stake in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. Finally, Palisade Asset Management LLC bought a new position in shares of Allstate during the third quarter worth approximately $31,000. 76.47% of the stock is owned by institutional investors.
Insider Activity
In other news, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the sale, the director owned 2,225 shares in the company, valued at $451,474.75. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by corporate insiders.
Allstate Stock Performance
Allstate (NYSE:ALL – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 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 the consensus estimate of $15.24 billion. During the same quarter in the previous year, the firm earned $3.53 earnings per share. Allstate’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that The Allstate Corporation will post 30.51 EPS for the current fiscal year.
Allstate Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. Allstate’s payout ratio is presently 9.53%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on ALL. HSBC downgraded Allstate from a “buy” rating to a “hold” rating and boosted their price target for the company from $244.00 to $264.00 in a research note on Monday, July 6th. Cantor Fitzgerald lifted their target price on Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Evercore set a $240.00 target price on shares of Allstate in a research report on Friday, July 10th. Barclays upped their price target on shares of Allstate from $203.00 to $213.00 and gave the company an “underweight” rating in a research note on Tuesday, July 7th. Finally, UBS Group cut shares of Allstate from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $255.00 to $261.00 in a research note on Wednesday, July 15th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.80.
Read Our Latest Stock Report on ALL
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.
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