Varma Mutual Pension Insurance Co Has $11.74 Million Stock Position in The Allstate Corporation $ALL

Varma Mutual Pension Insurance Co boosted its stake in The Allstate Corporation (NYSE:ALL) by 22.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,700 shares of the insurance provider’s stock after purchasing an additional 9,900 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Allstate were worth $11,741,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ALL. Leuthold Group LLC lifted its holdings in shares of Allstate by 3.5% during the 3rd quarter. Leuthold Group LLC now owns 19,756 shares of the insurance provider’s stock worth $4,241,000 after acquiring an additional 667 shares during the period. Savvy Advisors Inc. increased its stake in Allstate by 4.8% in the third quarter. Savvy Advisors Inc. now owns 1,765 shares of the insurance provider’s stock valued at $379,000 after acquiring an additional 81 shares during the last quarter. LSV Asset Management raised its position in Allstate by 8,830.5% during the third quarter. LSV Asset Management now owns 98,235 shares of the insurance provider’s stock valued at $21,086,000 after purchasing an additional 97,135 shares in the last quarter. Cibc World Market Inc. lifted its stake in Allstate by 547.9% during the third quarter. Cibc World Market Inc. now owns 43,928 shares of the insurance provider’s stock worth $9,429,000 after purchasing an additional 37,148 shares during the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of Allstate in the 3rd quarter valued at $3,598,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Stock Up 0.8%

Shares of NYSE ALL opened at $206.41 on Friday. The company has a 50 day simple moving average of $203.43 and a 200 day simple moving average of $203.97. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.43. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $216.75. The firm has a market cap of $54.01 billion, a PE ratio of 5.40, a price-to-earnings-growth ratio of 0.43 and a beta of 0.23.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, topping analysts’ consensus estimates of $8.72 by $5.59. The firm had revenue of $14.57 billion for the quarter, compared to analyst estimates of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.67 EPS. On average, research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, March 2nd. This is a boost from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio (DPR) is presently 10.47%.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 19,593 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total value of $4,114,530.00. Following the completion of the sale, the insider owned 100,646 shares of the company’s stock, valued at approximately $21,135,660. This represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 47,000 shares of company stock valued at $10,012,228. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group restated a “buy” rating and set a $238.00 price objective on shares of Allstate in a research report on Saturday, February 7th. Evercore set a $225.00 target price on Allstate in a research note on Wednesday, January 7th. Wall Street Zen cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Citigroup lifted their price target on shares of Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, BMO Capital Markets upped their price objective on shares of Allstate from $235.00 to $244.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.35.

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.