Forsta AP Fonden Lowers Position in The Allstate Co. (NYSE:ALL)

Forsta AP Fonden lessened its holdings in shares of The Allstate Co. (NYSE:ALL) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,500 shares of the insurance provider’s stock after selling 11,600 shares during the quarter. Forsta AP Fonden’s holdings in Allstate were worth $15,712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ALL. State Street Corp lifted its position in Allstate by 1.1% during the third quarter. State Street Corp now owns 11,496,306 shares of the insurance provider’s stock valued at $2,190,758,000 after purchasing an additional 126,922 shares during the last quarter. Geode Capital Management LLC lifted its position in Allstate by 1.2% during the third quarter. Geode Capital Management LLC now owns 6,228,581 shares of the insurance provider’s stock valued at $1,178,164,000 after purchasing an additional 74,537 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after purchasing an additional 472,040 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Allstate by 10.6% in the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock worth $287,851,000 after acquiring an additional 145,986 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of Allstate by 18,472.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after acquiring an additional 1,047,019 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Allstate from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Piper Sandler boosted their price objective on shares of Allstate from $206.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price objective on shares of Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley boosted their price objective on shares of Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Barclays lowered their price objective on shares of Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.13.

Allstate Stock Up 0.1 %

Shares of Allstate stock opened at $191.10 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The company’s fifty day simple moving average is $194.46 and its two-hundred day simple moving average is $188.07. The company has a market cap of $50.60 billion, a P/E ratio of 12.38, a PEG ratio of 1.41 and a beta of 0.52. The Allstate Co. has a 12-month low of $153.42 and a 12-month high of $209.88.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 EPS. Research analysts anticipate that The Allstate Co. will post 16.83 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Friday, November 29th. Allstate’s payout ratio is currently 23.83%.

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.