Handelsbanken Fonder AB Decreases Stock Position in The Allstate Co. (NYSE:ALL)

Handelsbanken Fonder AB trimmed its stake in shares of The Allstate Co. (NYSE:ALL) by 28.5% during the fourth quarter, HoldingsChannel reports. The fund owned 66,138 shares of the insurance provider’s stock after selling 26,382 shares during the quarter. Handelsbanken Fonder AB’s holdings in Allstate were worth $9,258,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ALL. AE Wealth Management LLC boosted its stake in Allstate by 18.2% during the 3rd quarter. AE Wealth Management LLC now owns 13,363 shares of the insurance provider’s stock valued at $1,489,000 after acquiring an additional 2,059 shares during the last quarter. IFP Advisors Inc boosted its stake in Allstate by 171.1% during the 3rd quarter. IFP Advisors Inc now owns 930 shares of the insurance provider’s stock valued at $104,000 after acquiring an additional 587 shares during the last quarter. RFG Advisory LLC bought a new position in Allstate during the 3rd quarter valued at $213,000. Flagship Harbor Advisors LLC bought a new position in Allstate during the 3rd quarter valued at $202,000. Finally, Washington Trust Advisors Inc. raised its holdings in shares of Allstate by 13.2% during the third quarter. Washington Trust Advisors Inc. now owns 1,720 shares of the insurance provider’s stock worth $192,000 after purchasing an additional 200 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO John C. Pintozzi sold 4,000 shares of Allstate stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John E. Dugenske sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO John C. Pintozzi sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $159.47, for a total value of $637,880.00. Following the transaction, the chief accounting officer now owns 10,736 shares of the company’s stock, valued at $1,712,069.92. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Allstate Stock Performance

ALL opened at $172.27 on Thursday. The firm has a market cap of $45.32 billion, a P/E ratio of -138.93, a price-to-earnings-growth ratio of 0.43 and a beta of 0.52. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $176.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.37 and a current ratio of 0.37. The business’s fifty day moving average is $164.72 and its 200-day moving average is $148.59.

Allstate (NYSE:ALL) last released its earnings results on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $1.95. The company had revenue of $14.83 billion for the quarter, compared to analyst estimates of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. Allstate’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.36) EPS. Sell-side analysts expect that The Allstate Co. will post 13.44 EPS for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, March 1st. Allstate’s dividend payout ratio (DPR) is presently -296.77%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ALL shares. Roth Mkm increased their target price on shares of Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 8th. BMO Capital Markets increased their target price on shares of Allstate from $140.00 to $158.00 and gave the stock a “market perform” rating in a report on Friday, January 19th. Jefferies Financial Group raised shares of Allstate from a “hold” rating to a “buy” rating and increased their target price for the stock from $130.00 to $180.00 in a report on Tuesday, January 9th. Raymond James increased their target price on shares of Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a report on Monday, January 22nd. Finally, Piper Sandler increased their price objective on shares of Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.71.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.