Oslo Pensjonsforsikring AS Buys Shares of 156,841 The Allstate Corporation $ALL

Oslo Pensjonsforsikring AS bought a new position in shares of The Allstate Corporation (NYSE:ALL) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 156,841 shares of the insurance provider’s stock, valued at approximately $32,519,000. Allstate makes up about 5.1% of Oslo Pensjonsforsikring AS’s portfolio, making the stock its 4th biggest position.

A number of other hedge funds also recently made changes to their positions in the stock. MV Capital Management Inc. acquired a new position in Allstate during the 4th quarter worth approximately $25,000. Dorato Capital Management acquired a new stake in Allstate in the fourth quarter valued at approximately $27,000. Navalign LLC acquired a new stake in Allstate in the fourth quarter valued at approximately $27,000. Evolution Wealth Management Inc. grew its stake in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after buying an additional 140 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Allstate during the first quarter worth $30,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,353 shares of company stock valued at $4,851,560 in the last 90 days. 1.55% of the stock is currently owned by corporate insiders.

Allstate Stock Performance

ALL stock opened at $251.64 on Wednesday. The stock has a 50-day moving average price of $228.81 and a 200-day moving average price of $215.02. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $257.67. 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 firm has a market cap of $64.78 billion, a PE ratio of 5.55, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.53 earnings per share. As a group, equities research analysts expect that The Allstate Corporation will post 30.51 earnings per share for the current year.

Allstate Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Atlantic Securities set a $319.00 price target on Allstate in a research note on Wednesday, July 15th. Cantor Fitzgerald upped their target price on Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Citigroup upped their target price on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Mizuho increased their target price on Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Finally, UBS Group cut Allstate from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $255.00 to $261.00 in a report on Wednesday, July 15th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $254.80.

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.