Skandinaviska Enskilda Banken AB publ Increases Stock Position in The Allstate Corporation $ALL

Skandinaviska Enskilda Banken AB publ increased its holdings in The Allstate Corporation (NYSE:ALL) by 163.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 279,824 shares of the insurance provider’s stock after acquiring an additional 173,554 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.11% of Allstate worth $60,064,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALL. Harbor Capital Advisors Inc. grew its position in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC boosted its stake in shares of Allstate by 112.3% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock worth $30,000 after buying an additional 73 shares during the period. Clearstead Trust LLC grew its holdings in shares of Allstate by 3,800.0% during the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after buying an additional 152 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Allstate by 315.0% during the second 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. Finally, Armstrong Advisory Group Inc. increased its position in Allstate by 72.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

ALL has been the subject of a number of recent research reports. TD Cowen cut Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Wall Street Zen cut Allstate from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Allstate from $254.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. Cantor Fitzgerald reissued a “neutral” rating and issued a $220.00 price objective on shares of Allstate in a research note on Thursday, February 5th. Finally, Zacks Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $239.35.

Allstate Stock Performance

NYSE:ALL opened at $207.41 on Tuesday. The firm’s fifty day simple moving average is $203.67 and its 200-day simple moving average is $204.27. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.26. The stock has a market cap of $54.28 billion, a PE ratio of 5.43, a price-to-earnings-growth ratio of 0.44 and a beta of 0.24. The Allstate Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $216.75.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm had revenue of $14.57 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter in the previous year, the firm earned $7.67 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. Analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a dividend of $1.08 per share. This is a positive change from Allstate’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $4.32 annualized dividend and a dividend yield of 2.1%. Allstate’s dividend payout ratio is presently 10.47%.

Insider Buying and Selling at Allstate

In related news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. The trade was a 16.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 46,600 shares of company stock valued at $9,926,140. Corporate insiders own 1.70% of the company’s stock.

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.