Swedbank AB Sells 208,356 Shares of The Allstate Corporation $ALL

Swedbank AB decreased its position in shares of The Allstate Corporation (NYSE:ALL) by 15.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,100,891 shares of the insurance provider’s stock after selling 208,356 shares during the period. Swedbank AB owned 0.43% of Allstate worth $228,259,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. South Plains Financial Inc. grew its holdings in Allstate by 41.5% during the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after buying an additional 49 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Allstate by 0.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock worth $1,625,000 after acquiring an additional 50 shares in the last quarter. Compound Planning Inc. boosted its position in shares of Allstate by 1.6% during the 4th quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock valued at $669,000 after acquiring an additional 50 shares during the last quarter. Humankind Investments LLC grew its holdings in shares of Allstate by 4.5% in the third quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock valued at $256,000 after purchasing an additional 51 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Allstate by 0.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after purchasing an additional 52 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Allstate Trading Up 3.0%

ALL stock traded up $7.50 during midday trading on Tuesday, reaching $255.87. The company’s stock had a trading volume of 483,928 shares, compared to its average volume of 1,671,323. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $257.67. The stock has a fifty day simple moving average of $220.59 and a two-hundred day simple moving average of $211.53. The firm has a market capitalization of $65.87 billion, a price-to-earnings ratio of 5.63, a PEG ratio of 0.44 and a beta of 0.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36.

Allstate (NYSE:ALL) last released its quarterly earnings data 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. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company had revenue of $16.94 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the previous year, the company earned $3.53 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts predict that The Allstate Corporation will post 29.75 EPS for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, June 1st. Allstate’s payout ratio is presently 9.53%.

Insider Activity

In other news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction that occurred on 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 owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 22,353 shares of company stock worth $4,851,560. 1.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ALL has been the topic of a number of recent research reports. Barclays upped their price target on shares of Allstate from $203.00 to $213.00 and gave the company an “underweight” rating in a research note on Tuesday. Piper Sandler restated an “overweight” rating on shares of Allstate in a report on Thursday, May 28th. Keefe, Bruyette & Woods cut shares of Allstate from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $266.00 to $242.00 in a research report on Monday, June 8th. Raymond James Financial increased their price target on shares of Allstate from $260.00 to $300.00 and gave the company a “strong-buy” rating in a report on Monday. Finally, HSBC lowered Allstate from a “buy” rating to a “hold” rating and lifted their price target for the stock from $244.00 to $264.00 in a research report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.