Swedbank AB Trims Stock Holdings in The Allstate Corporation $ALL

Swedbank AB decreased its position in shares of The Allstate Corporation (NYSE:ALL) by 15.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,100,891 shares of the insurance provider’s stock after selling 208,356 shares during the quarter. Swedbank AB’s holdings in Allstate were worth $228,259,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. MV Capital Management Inc. purchased a new position in shares of Allstate during the 4th quarter valued at about $25,000. Dorato Capital Management acquired a new stake in shares of Allstate during the 4th quarter worth approximately $27,000. Navalign LLC purchased a new position in shares of Allstate during the 4th quarter valued at approximately $27,000. Evolution Wealth Management Inc. increased its holdings in shares of Allstate by 7,000.0% during the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Finally, Palisade Asset Management LLC acquired a new position in shares of Allstate in the 3rd quarter valued at $31,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

NYSE:ALL traded up $7.50 during trading hours on Tuesday, reaching $255.87. 483,928 shares of the company were exchanged, compared to its average volume of 1,671,323. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The firm has a market cap of $65.87 billion, a PE ratio of 5.63, a price-to-earnings-growth ratio of 0.44 and a beta of 0.16. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $257.67. The stock’s 50-day moving average is $220.59 and its 200-day moving average is $211.53.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $3.53 earnings per share. On average, sell-side analysts anticipate that The Allstate Corporation will post 29.75 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a $1.08 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Insider Buying and Selling

In other news, Director Andrea Redmond sold 2,225 shares of the stock in a transaction dated 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 in the company, valued at $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the transaction, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% 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. Insiders own 1.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Piper Sandler reissued an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Raymond James Financial upped their price objective on shares of Allstate from $260.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Monday. Weiss Ratings reissued a “buy (a-)” rating on shares of Allstate in a research note on Thursday, June 18th. Barclays raised their target price on Allstate from $203.00 to $213.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, Morgan Stanley lifted their price target on Allstate from $215.00 to $240.00 and gave the company an “equal weight” rating in a research note on Monday. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $245.26.

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.