87,473 Shares in The Allstate Corporation $ALL Purchased by Nykredit A S

Nykredit A S purchased a new position in The Allstate Corporation (NYSE:ALLFree Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 87,473 shares of the insurance provider’s stock, valued at approximately $20,813,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gables Capital Management Inc. bought a new stake in shares of Allstate in the 2nd quarter worth approximately $26,000. Allied Private Wealth LLC bought a new stake in Allstate during the second quarter worth approximately $29,000. Kelleher Financial Advisors acquired a new position in Allstate in the second quarter worth approximately $28,000. MV Capital Management Inc. bought a new position in shares of Allstate in the fourth quarter valued at $25,000. Finally, Navalign LLC bought a new position in shares of Allstate in the fourth quarter valued at $27,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Up 1.7%

ALL stock opened at $263.63 on Friday. The company has a 50 day moving average of $256.51 and a two-hundred day moving average of $228.55. The company has a market cap of $66.66 billion, a price-to-earnings ratio of 5.26, a PEG ratio of 0.60 and a beta of 0.15. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $277.22. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALLGet Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The business had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. During the same period in the previous year, the company posted $5.94 EPS. Allstate’s revenue was up 11.8% on a year-over-year basis. On average, equities analysts anticipate that The Allstate Corporation will post 34.78 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be paid a $1.08 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a yield of 1.6%. Allstate’s payout ratio is 8.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ALL shares. Citigroup lowered Allstate from a “neutral” rating to a “sell” rating and raised 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 target on Allstate in a research report on Friday, July 10th. The Goldman Sachs Group reissued a “neutral” rating and issued a $280.00 price target on shares of Allstate in a research note on Friday, August 7th. Morgan Stanley set a $265.00 price objective on Allstate in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Four research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $263.90.

View Our Latest Research Report on Allstate

Insider Transactions at Allstate

In other news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares in the company, valued at $21,747,396.96. The trade was a 40.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the sale, the insider directly 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 position. The SEC filing for this sale provides additional information. Insiders own 1.55% of the company’s stock.

Allstate Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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