The Allstate Corporation $ALL Position Reduced by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in shares of The Allstate Corporation (NYSE:ALL) by 4.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 69,283 shares of the insurance provider’s stock after selling 3,000 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Allstate were worth $14,421,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Dorato Capital Management bought a new stake in Allstate in the fourth quarter worth about $27,000. Navalign LLC bought a new position in shares of Allstate during the 4th quarter valued at about $27,000. Princeton Global Asset Management LLC grew its stake in shares of Allstate by 101.3% in the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 76 shares during the last quarter. Palisade Asset Management LLC acquired a new position in shares of Allstate in the 3rd quarter worth approximately $31,000. Finally, South Plains Financial Inc. raised its holdings in shares of Allstate by 41.5% in the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insiders Place Their Bets

In other 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 value of $335,218.50. Following the transaction, the insider directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the sale, the director owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,353 shares of company stock worth $4,851,560 in the last quarter. 1.55% of the stock is currently owned by corporate insiders.

Allstate Trading Up 4.8%

Shares of NYSE ALL opened at $220.98 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a one year low of $188.08 and a one year high of $227.62. The business has a 50-day moving average price of $213.31 and a two-hundred day moving average price of $208.65. The firm has a market capitalization of $56.88 billion, a PE ratio of 4.87, a PEG ratio of 0.40 and a beta of 0.18.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.53 EPS. As a group, analysts predict that The Allstate Corporation will post 29.43 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, June 1st. Allstate’s dividend payout ratio is currently 9.53%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ALL. Wells Fargo & Company raised their target price on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Barclays upped their price target on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a report on Wednesday, April 8th. Piper Sandler reissued an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. Wall Street Zen cut Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Citigroup boosted their target price on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $241.67.

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.