Nordea Investment Management AB Boosts Position in The Allstate Corporation $ALL

Nordea Investment Management AB boosted its position in shares of The Allstate Corporation (NYSE:ALL) by 434.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 116,705 shares of the insurance provider’s stock after acquiring an additional 94,863 shares during the quarter. Nordea Investment Management AB’s holdings in Allstate were worth $23,115,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group increased its position in Allstate by 3.2% during the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider’s stock worth $338,000 after buying an additional 51 shares during the period. Vantage Point Financial LLC increased its position in Allstate by 3.6% during the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider’s stock worth $310,000 after buying an additional 52 shares during the period. Confluence Wealth Services Inc. increased its position in Allstate by 0.7% during the first quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider’s stock worth $1,558,000 after buying an additional 54 shares during the period. Linscomb Wealth Inc. increased its position in Allstate by 1.3% during the first quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after buying an additional 54 shares during the period. Finally, Ancora Advisors LLC increased its position in Allstate by 0.7% during the first quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock worth $1,740,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Stock Up 0.6%

Allstate stock opened at $195.96 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $215.70. The company has a market cap of $51.64 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 0.72 and a beta of 0.38. The stock’s 50 day moving average price is $205.61 and its 200 day moving average price is $200.84.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the previous year, the business earned $1.61 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on ALL shares. Citigroup raised Allstate to a “hold” rating in a research report on Wednesday, August 13th. UBS Group boosted their target price on Allstate from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on Allstate from $235.00 to $254.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Cantor Fitzgerald raised Allstate to a “hold” rating in a report on Wednesday, August 13th. Finally, Morgan Stanley boosted their target price on Allstate from $235.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Allstate currently has a consensus rating of “Moderate Buy” and an average target price of $234.60.

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.