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

Forsta AP Fonden cut its position in shares of The Allstate Co. (NYSE:ALL – Get Rating) by 14.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,300 shares of the insurance provider’s stock after selling 16,700 shares during the period. Forsta AP Fonden’s holdings in Allstate were worth $14,170,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. raised its stake in shares of Allstate by 5.9% in the 4th quarter. D.A. Davidson & CO. now owns 12,044 shares of the insurance provider’s stock valued at $1,417,000 after acquiring an additional 670 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Allstate by 1.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 71,967 shares of the insurance provider’s stock valued at $8,467,000 after acquiring an additional 945 shares during the period. AGF Investments Inc. raised its stake in shares of Allstate by 27.2% in the 4th quarter. AGF Investments Inc. now owns 5,402 shares of the insurance provider’s stock valued at $636,000 after acquiring an additional 1,155 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Allstate by 585.9% in the 4th quarter. Oppenheimer & Co. Inc. now owns 62,699 shares of the insurance provider’s stock valued at $7,376,000 after acquiring an additional 53,558 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Allstate by 1.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,930 shares of the insurance provider’s stock valued at $8,463,000 after acquiring an additional 828 shares during the period. 75.84% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Up 2.7 %

ALL stock opened at $117.00 on Friday. The company has a fifty day moving average price of $124.31 and a 200 day moving average price of $127.64. The Allstate Co. has a 12 month low of $106.11 and a 12 month high of $144.46. The company has a market cap of $31.63 billion, a price-to-earnings ratio of 40.77, a price-to-earnings-growth ratio of 4.93 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.40 and a quick ratio of 0.43.

Allstate (NYSE:ALL – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The insurance provider reported ($0.76) EPS for the quarter, beating the consensus estimate of ($1.27) by $0.51. Allstate had a net margin of 1.99% and a return on equity of 7.53%. During the same period in the prior year, the business posted $3.79 earnings per share. Sell-side analysts expect that The Allstate Co. will post 5.28 earnings per share for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $3.40 dividend on an annualized basis and a yield of 2.91%. Allstate’s payout ratio is currently 118.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ALL shares. Morgan Stanley reduced their price target on shares of Allstate from $152.00 to $139.00 and set an “equal weight” rating on the stock in a research note on Monday, May 23rd. Credit Suisse Group started coverage on shares of Allstate in a research note on Thursday, April 28th. They set an “outperform” rating and a $188.00 target price on the stock. Wells Fargo & Company cut their target price on shares of Allstate from $116.00 to $110.00 and set an “underweight” rating on the stock in a research note on Thursday, July 21st. Barclays cut their target price on shares of Allstate from $132.00 to $123.00 in a research note on Thursday, July 21st. Finally, Raymond James lowered their price target on shares of Allstate from $165.00 to $155.00 in a report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.58.

Insiders Place Their Bets

In other Allstate news, CEO Thomas J. Wilson sold 142,000 shares of the company’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $133.39, for a total transaction of $18,941,380.00. Following the completion of the transaction, the chief executive officer now owns 99,828 shares in the company, valued at approximately $13,316,056.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.77% of the stock is owned by insiders.

Allstate Profile

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The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home and stand-alone scheduled personal property; and commercial lines products under the Allstate and Encompass brand names.