DNB Asset Management AS increased its stake in shares of Allstate Corp (NYSE:ALL) by 18.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,332 shares of the insurance provider’s stock after acquiring an additional 18,568 shares during the period. DNB Asset Management AS’s holdings in Allstate were worth $12,135,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Boston Partners grew its holdings in Allstate by 17.1% in the first quarter. Boston Partners now owns 11,106,016 shares of the insurance provider’s stock valued at $1,045,965,000 after purchasing an additional 1,620,871 shares during the period. Macquarie Group Ltd. grew its holdings in Allstate by 6.3% in the fourth quarter. Macquarie Group Ltd. now owns 7,852,608 shares of the insurance provider’s stock valued at $648,861,000 after purchasing an additional 468,725 shares during the period. LSV Asset Management grew its holdings in Allstate by 3.6% in the first quarter. LSV Asset Management now owns 5,854,851 shares of the insurance provider’s stock valued at $551,409,000 after purchasing an additional 204,500 shares during the period. Geode Capital Management LLC grew its holdings in Allstate by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 4,733,322 shares of the insurance provider’s stock valued at $390,468,000 after purchasing an additional 391,869 shares during the period. Finally, Bank of Montreal Can grew its holdings in Allstate by 10.9% in the first quarter. Bank of Montreal Can now owns 3,279,066 shares of the insurance provider’s stock valued at $308,822,000 after purchasing an additional 321,139 shares during the period. 77.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ALL traded up $0.30 during mid-day trading on Tuesday, reaching $101.51. 1,005,441 shares of the company’s stock traded hands, compared to its average volume of 1,905,732. The firm’s 50-day simple moving average is $102.12. The company has a market cap of $33.76 billion, a PE ratio of 12.58, a P/E/G ratio of 1.38 and a beta of 0.81. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.30. Allstate Corp has a 12 month low of $77.00 and a 12 month high of $107.43.
Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $2.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.02. Allstate had a net margin of 6.26% and a return on equity of 12.66%. The business had revenue of $8.70 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same period in the prior year, the firm earned $2.96 earnings per share. Allstate’s revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that Allstate Corp will post 8.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, August 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.97%. Allstate’s payout ratio is presently 24.78%.
In related news, Director Judith A. Sprieser sold 2,225 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $102.63, for a total transaction of $228,351.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Susan L. Lees sold 30,189 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $102.26, for a total transaction of $3,087,127.14. Following the transaction, the executive vice president now owns 62,854 shares in the company, valued at approximately $6,427,450.04. The disclosure for this sale can be found here. Insiders have sold a total of 54,703 shares of company stock worth $5,593,860 in the last quarter. 1.60% of the stock is owned by corporate insiders.
A number of brokerages have recently issued reports on ALL. Barclays reaffirmed a “buy” rating and issued a $65.00 price target on shares of Owens Corning in a research note on Monday, July 1st. Morgan Stanley set a $620.00 price objective on Intuitive Surgical and gave the stock a “buy” rating in a research report on Friday. UBS Group reiterated a “buy” rating and set a $25.00 price objective on shares of Infineon Technologies in a research report on Tuesday, May 7th. Credit Suisse Group started coverage on Merck & Co., Inc. in a research report on Thursday, July 11th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Goldman Sachs Group upgraded Koninklijke KPN from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $105.42.
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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