Handelsbanken Fonder AB Sells 26,382 Shares of The Allstate Co. (NYSE:ALL)

Handelsbanken Fonder AB cut its position in shares of The Allstate Co. (NYSE:ALL) by 28.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,138 shares of the insurance provider’s stock after selling 26,382 shares during the quarter. Handelsbanken Fonder AB’s holdings in Allstate were worth $9,258,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ALL. Vanguard Group Inc. grew its stake in Allstate by 11.5% in the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock valued at $3,595,266,000 after purchasing an additional 3,322,673 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Allstate by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,926,917 shares of the insurance provider’s stock worth $660,318,000 after acquiring an additional 172,250 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Allstate by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,239,513 shares of the insurance provider’s stock worth $472,324,000 after acquiring an additional 53,821 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Allstate by 23.0% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,184,211 shares of the insurance provider’s stock worth $466,163,000 after acquiring an additional 782,696 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Allstate by 46.6% during the 3rd quarter. Invesco Ltd. now owns 4,121,941 shares of the insurance provider’s stock worth $459,225,000 after acquiring an additional 1,311,095 shares during the period. 76.47% of the stock is currently owned by institutional investors.

Insider Transactions at Allstate

In other Allstate news, insider John E. Dugenske sold 31,000 shares of Allstate stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total value of $5,276,200.00. Following the transaction, the insider now directly owns 63,731 shares of the company’s stock, valued at $10,847,016.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John E. Dugenske sold 31,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $170.20, for a total transaction of $5,276,200.00. Following the completion of the transaction, the insider now directly owns 63,731 shares in the company, valued at $10,847,016.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John C. Pintozzi sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $159.47, for a total transaction of $637,880.00. Following the sale, the chief accounting officer now directly owns 10,736 shares of the company’s stock, valued at approximately $1,712,069.92. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ALL. Wells Fargo & Company lifted their price target on Allstate from $145.00 to $146.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. TD Cowen assumed coverage on Allstate in a research report on Wednesday, January 10th. They set an “outperform” rating and a $193.00 price objective on the stock. Piper Sandler boosted their price objective on Allstate from $172.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Roth Mkm boosted their price objective on Allstate from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, UBS Group boosted their price objective on Allstate from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.71.

Allstate Stock Performance

ALL stock opened at $172.27 on Thursday. The stock has a market capitalization of $45.32 billion, a PE ratio of -138.93, a price-to-earnings-growth ratio of 0.43 and a beta of 0.52. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $176.93. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $164.72 and its 200 day simple moving average is $148.59.

Allstate (NYSE:ALL) last released its quarterly earnings data on Thursday, February 8th. The insurance provider reported $5.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $1.95. The business had revenue of $14.83 billion for the quarter, compared to analysts’ expectations of $12.69 billion. Allstate had a positive return on equity of 2.67% and a negative net margin of 0.33%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.36) EPS. As a group, research analysts forecast that The Allstate Co. will post 13.44 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.14%. This is a boost from Allstate’s previous quarterly dividend of $0.89. The ex-dividend date was Friday, March 1st. Allstate’s dividend payout ratio is presently -296.77%.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.