Danske Bank A S Buys Shares of 468,650 The Allstate Corporation $ALL

Danske Bank A S purchased a new position in The Allstate Corporation (NYSE:ALL) in the third quarter, HoldingsChannel.com reports. The fund purchased 468,650 shares of the insurance provider’s stock, valued at approximately $100,596,000.

Several other institutional investors and hedge funds have also made changes to their positions in ALL. Harbor Capital Advisors Inc. boosted its stake in shares of Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Barnes Dennig Private Wealth Management LLC raised its stake in Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares during the last quarter. Palisade Asset Management LLC purchased a new position in Allstate in the 3rd quarter valued at about $31,000. Armstrong Advisory Group Inc. boosted its stake in shares of Allstate by 72.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 67 shares during the last quarter. Finally, South Plains Financial Inc. grew its holdings in shares of Allstate by 41.5% during the third quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after buying an additional 49 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Performance

Shares of ALL stock opened at $207.32 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market capitalization of $53.81 billion, a price-to-earnings ratio of 5.43, a price-to-earnings-growth ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a one year low of $176.00 and a one year high of $216.75. The company has a 50 day moving average price of $204.57 and a 200 day moving average price of $204.76.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The company had revenue of $17.35 billion during the quarter, compared to analysts’ expectations of $17.23 billion. During the same period in the previous year, the company earned $7.67 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $1.08 per share. This is a boost 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 dividend on an annualized basis and a yield of 2.1%. Allstate’s dividend payout ratio is currently 11.31%.

Insider Buying and Selling

In related news, insider Suren Gupta sold 19,593 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $210.00, for a total value of $4,114,530.00. Following the transaction, the insider owned 100,646 shares in the company, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ALL shares. Mizuho upped their price objective on shares of Allstate from $255.00 to $281.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Wells Fargo & Company lowered their target price on shares of Allstate from $228.00 to $227.00 and set an “equal weight” rating for the company in a research note on Friday, February 20th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $231.00 price target on shares of Allstate in a report on Thursday, March 5th. Cantor Fitzgerald restated a “neutral” rating and set a $220.00 price objective on shares of Allstate in a report on Thursday, February 5th. Finally, William Blair lowered Allstate from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and an average target price of $238.88.

About Allstate

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.