Swedbank AB Grows Position in The Allstate Corporation $ALL

Swedbank AB boosted its position in shares of The Allstate Corporation (NYSE:ALL) by 51.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,309,247 shares of the insurance provider’s stock after purchasing an additional 447,522 shares during the period. Swedbank AB’s holdings in Allstate were worth $272,520,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Allstate by 5.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider’s stock worth $112,533,000 after buying an additional 26,586 shares during the period. AssuredPartners Investment Advisors LLC grew its position in Allstate by 113.5% in the 4th quarter. AssuredPartners Investment Advisors LLC now owns 2,474 shares of the insurance provider’s stock valued at $515,000 after acquiring an additional 1,315 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Allstate by 1.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,284 shares of the insurance provider’s stock valued at $8,177,000 after acquiring an additional 468 shares during the last quarter. Garner Asset Management Corp purchased a new stake in Allstate in the fourth quarter worth $38,000. Finally, McIlrath & Eck LLC lifted its position in shares of Allstate by 1,533.3% during the fourth quarter. McIlrath & Eck LLC now owns 196 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 184 shares during the last quarter. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ALL shares. Cantor Fitzgerald reissued a “neutral” rating and set a $220.00 target price on shares of Allstate in a research note on Thursday, February 5th. Evercore set a $225.00 price objective on shares of Allstate in a report on Wednesday, January 7th. TD Cowen cut shares of Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Wells Fargo & Company upped their target price on shares of Allstate from $227.00 to $229.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. Finally, Piper Sandler raised their target price on shares of Allstate from $252.00 to $268.00 and gave the stock an “overweight” rating in a research report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $240.56.

Insider Activity at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.55% of the company’s stock.

Allstate Price Performance

ALL opened at $218.55 on Wednesday. The company has a market capitalization of $56.26 billion, a price-to-earnings ratio of 4.82, a PEG ratio of 0.43 and a beta of 0.21. 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 Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $222.23. The business’s fifty day simple moving average is $210.59 and its 200-day simple moving average is $205.97.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the company posted $3.53 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that The Allstate Corporation will post 27.15 earnings per share for the current fiscal year.

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.