Nordea Investment Management AB Reduces Stock Position in The Allstate Corporation $ALL

Nordea Investment Management AB cut its holdings in The Allstate Corporation (NYSE:ALL) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 325,493 shares of the insurance provider’s stock after selling 20,248 shares during the quarter. Nordea Investment Management AB owned approximately 0.12% of Allstate worth $68,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ALL. South Plains Financial Inc. lifted its holdings in 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 buying an additional 49 shares during the period. Humankind Investments LLC increased its stake in shares of Allstate by 4.5% during the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock valued at $256,000 after buying an additional 51 shares during the period. Focus Financial Network Inc. raised its holdings in shares of Allstate by 1.1% during the third quarter. Focus Financial Network Inc. now owns 4,693 shares of the insurance provider’s stock valued at $1,012,000 after acquiring an additional 52 shares in the last quarter. L2 Asset Management LLC raised its holdings in shares of Allstate by 4.8% during the second quarter. L2 Asset Management LLC now owns 1,168 shares of the insurance provider’s stock valued at $235,000 after acquiring an additional 53 shares in the last quarter. Finally, Howard Capital Management Inc. lifted its stake in Allstate by 3.2% in the third quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock worth $373,000 after acquiring an additional 54 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

ALL opened at $207.67 on Tuesday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26. The company has a market cap of $53.90 billion, a price-to-earnings ratio of 5.44, a price-to-earnings-growth ratio of 0.42 and a beta of 0.23. The stock has a fifty day simple moving average of $204.23 and a two-hundred day simple moving average of $204.78. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $216.75.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, beating analysts’ consensus estimates of $8.72 by $5.59. The firm had revenue of $17.35 billion for the quarter, compared to analysts’ expectations of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.67 EPS. Research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is an increase from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a yield of 2.1%. Allstate’s payout ratio is presently 11.31%.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 19,593 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the sale, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ALL. Weiss Ratings reiterated a “buy (b)” rating on shares of Allstate in a report on Wednesday, January 21st. Zacks Research raised shares of Allstate from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $215.00 target price (down from $245.00) on shares of Allstate in a research note on Tuesday, December 16th. William Blair lowered shares of Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Allstate has a consensus rating of “Moderate Buy” and an average target price of $237.94.

Allstate 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.