87,473 Shares in The Allstate Corporation $ALL Bought by Nykredit A S

Nykredit A S bought a new stake in shares of The Allstate Corporation (NYSE:ALL) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 87,473 shares of the insurance provider’s stock, valued at approximately $20,813,000.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Allstate during the 2nd quarter valued at about $5,439,448,000. Bank of America Corp DE acquired a new stake in Allstate in the 2nd quarter worth approximately $1,410,362,000. GQG Partners LLC acquired a new stake in Allstate in the 2nd quarter worth approximately $1,245,710,000. Deutsche Bank AG bought a new stake in Allstate during the second quarter worth approximately $1,008,648,000. Finally, Norges Bank acquired a new position in Allstate during the fourth quarter valued at approximately $531,294,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup cut shares of Allstate from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $226.00 to $240.00 in a research note on Tuesday, August 11th. Raymond James Financial reissued a “strong-buy” rating and set a $315.00 price objective on shares of Allstate in a research report on Tuesday, August 11th. Argus set a $238.00 target price on shares of Allstate in a research note on Friday, August 28th. Atlantic Securities set a $319.00 price objective on Allstate in a research report on Wednesday, July 15th. Finally, HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and lifted their target price for the company from $244.00 to $264.00 in a research report on Monday, July 6th. Four research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $263.90.

Allstate Price Performance

Shares of ALL stock opened at $263.63 on Friday. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22. The firm’s 50 day moving average is $256.51 and its 200-day moving average is $228.55. The firm has a market capitalization of $66.66 billion, a price-to-earnings ratio of 5.26, a PEG ratio of 0.60 and a beta of 0.15. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating the consensus estimate of $6.06 by $2.93. The business had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. Allstate’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.94 earnings per share. Sell-side analysts forecast that The Allstate Corporation will post 34.78 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is presently 8.63%.

Insider Buying and Selling at Allstate

In other news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. This trade represents a 40.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Dugenske sold 32,996 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the sale, the insider owned 13,054 shares of the company’s stock, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their position. The SEC filing for this sale provides additional information. 1.55% of the stock is currently owned by company insiders.

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.