Swiss National Bank Boosts Stock Position in The Allstate Corporation $ALL

Swiss National Bank increased its position in The Allstate Corporation (NYSE:ALL) by 7.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 802,200 shares of the insurance provider’s stock after acquiring an additional 55,400 shares during the period. Swiss National Bank’s holdings in Allstate were worth $161,491,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ALL. Arlington Trust Co LLC increased its position in Allstate by 261.8% during the second quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Clearstead Trust LLC grew its stake in shares of Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after buying an additional 152 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in shares of Allstate by 315.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after buying an additional 126 shares during the last quarter. Hilltop National Bank purchased a new position in shares of Allstate in the 2nd quarter worth $34,000. Finally, Meeder Asset Management Inc. boosted its holdings in Allstate by 113.8% in the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 99 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Up 1.2%

ALL stock opened at $214.28 on Friday. The firm has a 50 day simple moving average of $203.39 and a 200-day simple moving average of $202.07. The company has a market capitalization of $56.07 billion, a P/E ratio of 10.07, a PEG ratio of 0.69 and a beta of 0.35. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.89. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.48 by $5.69. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The business had revenue of $17.26 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same quarter in the prior year, the business posted $3.91 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts predict that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, December 1st. Allstate’s dividend payout ratio (DPR) is presently 12.95%.

Analysts Set New Price Targets

ALL has been the subject of several research analyst reports. Morgan Stanley upped their price target on Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Roth Capital set a $230.00 target price on shares of Allstate and gave the company a “buy” rating in a report on Friday, September 26th. Wolfe Research upgraded Allstate to a “strong-buy” rating in a report on Tuesday, September 16th. Evercore ISI set a $233.00 price objective on Allstate and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $246.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $237.64.

Insider Buying and Selling

In other news, insider Suren Gupta sold 1,400 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $215.02, for a total transaction of $301,028.00. Following the completion of the transaction, the insider directly owned 101,031 shares of the company’s stock, valued at approximately $21,723,685.62. This represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.

About Allstate

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.