Danske Bank A S acquired a new stake in shares of The Allstate Corporation (NYSE:ALL – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 426,941 shares of the insurance provider’s stock, valued at approximately $101,586,000.
A number of other institutional investors and hedge funds have also bought and sold shares of ALL. Coldstream Capital Management Inc. raised its position in Allstate by 0.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after purchasing an additional 50 shares during the last quarter. Compound Planning Inc. grew its holdings in shares of Allstate by 1.6% during the fourth quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock worth $669,000 after purchasing an additional 50 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Allstate by 0.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after buying an additional 52 shares during the period. Root Financial Partners LLC raised its holdings in Allstate by 4.7% in the 1st quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider’s stock valued at $243,000 after buying an additional 53 shares during the last quarter. Finally, Montag A & Associates Inc. boosted its position in Allstate by 10.2% during the 4th quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock worth $125,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. HSBC cut shares of Allstate from a “buy” rating to a “hold” rating and upped their price target for the company from $244.00 to $264.00 in a research report on Monday, July 6th. Cantor Fitzgerald lifted their price target on shares of Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Citigroup cut shares of Allstate from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $226.00 to $240.00 in a research note on Tuesday, August 11th. Evercore set a $240.00 price objective on Allstate in a report on Friday, July 10th. Finally, Barclays raised their target price on Allstate from $213.00 to $226.00 and gave the stock an “underweight” rating in a research report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Allstate has a consensus rating of “Hold” and a consensus target price of $265.53.
Allstate Stock Up 1.2%
Allstate stock opened at $261.27 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22. The firm has a 50 day moving average price of $248.26 and a two-hundred day moving average price of $223.92. The firm has a market cap of $66.06 billion, a price-to-earnings ratio of 5.22, a PEG ratio of 0.41 and a beta of 0.16.
Allstate (NYSE:ALL – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company had revenue of $15.43 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same period in the prior year, the firm posted $5.94 EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Equities analysts predict that The Allstate Corporation will post 34.2 EPS for the current year.
Allstate Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 annualized dividend and a yield of 1.7%. Allstate’s payout ratio is presently 8.63%.
Insider Activity
In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John E. Dugenske sold 32,996 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the sale, the insider owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 92,996 shares of company stock worth $24,543,894. 1.55% of the stock is owned by insiders.
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.
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