The Allstate Corporation $ALL Stock Holdings Lessened by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd cut its holdings in The Allstate Corporation (NYSE:ALL) by 7.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 42,173 shares of the insurance provider’s stock after selling 3,637 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Allstate were worth $8,744,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. MV Capital Management Inc. bought a new position in Allstate in the fourth quarter worth about $25,000. Navalign LLC acquired a new stake in shares of Allstate during the 4th quarter worth approximately $27,000. Dorato Capital Management acquired a new stake in shares of Allstate during the 4th quarter worth approximately $27,000. Evolution Wealth Management Inc. lifted its holdings in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. Finally, Palisade Asset Management LLC acquired a new position in Allstate during the 3rd quarter valued at approximately $31,000. Institutional investors own 76.47% of the company’s stock.

Allstate Trading Up 2.2%

Shares of ALL stock opened at $260.16 on Friday. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $260.65. The firm has a market capitalization of $66.97 billion, a PE ratio of 5.74, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16. The stock has a fifty day moving average of $231.16 and a two-hundred day moving average of $216.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The company 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 quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $3.53 earnings per share. As a group, research analysts expect that The Allstate Corporation will post 30.51 EPS for the current year.

Allstate Announces Dividend

The business also recently declared 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. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s payout ratio is 9.53%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALL. Cantor Fitzgerald increased their target price on Allstate from $236.00 to $242.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Barclays boosted their price target on shares of Allstate from $203.00 to $213.00 and gave the company an “underweight” rating in a report on Tuesday, July 7th. HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and upped their price target for the stock from $244.00 to $264.00 in a research report on Monday, July 6th. Atlantic Securities set a $319.00 price objective on shares of Allstate in a research report on Wednesday, July 15th. Finally, Raymond James Financial boosted their target price on shares of Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Monday, July 6th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Allstate presently has an average rating of “Moderate Buy” and a consensus price target of $254.80.

Insiders Place Their Bets

In other news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mario Rizzo sold 18,578 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the completion of the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is owned by corporate insiders.

Allstate Company 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.