SEB Asset Management AB Acquires New Position in The Allstate Corporation $ALL

SEB Asset Management AB acquired a new stake in The Allstate Corporation (NYSE:ALL) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 283,856 shares of the insurance provider’s stock, valued at approximately $58,855,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALL. State Street Corp increased its stake in shares of Allstate by 3.7% in the fourth quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after acquiring an additional 438,034 shares during the last quarter. GQG Partners LLC boosted its position in Allstate by 36.0% during the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after purchasing an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. grew its stake in Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock valued at $1,042,321,000 after purchasing an additional 1,131,172 shares in the last quarter. Boston Partners grew its stake in Allstate by 14.9% in the third quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after purchasing an additional 395,195 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in Allstate by 3.3% in the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after purchasing an additional 88,620 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Citigroup lifted their price target on Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Evercore set a $240.00 price objective on Allstate in a report on Friday, July 10th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Allstate in a research report on Thursday, June 18th. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $263.00 to $282.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Piper Sandler reissued an “overweight” rating on shares of Allstate in a research report on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and an average target price of $254.80.

Allstate Price Performance

Shares of NYSE:ALL opened at $249.84 on Friday. The stock has a market capitalization of $64.31 billion, a P/E ratio of 5.51, a P/E/G ratio of 0.43 and a beta of 0.16. The business has a 50-day moving average of $227.29 and a two-hundred day moving average of $214.36. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $257.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the firm posted $3.53 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts predict that The Allstate Corporation will post 30.4 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. Allstate’s dividend payout ratio is presently 9.53%.

Insider Buying and Selling at Allstate

In other news, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,353 shares of company stock worth $4,851,560 over the last 90 days. Insiders own 1.55% of the company’s stock.

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.