Sompo Japan Nipponkoa Asset Management CO. LTD. grew its position in Allstate Corp (NYSE:ALL) by 82.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,660 shares of the insurance provider’s stock after purchasing an additional 9,340 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Allstate were worth $1,895,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Archer Investment Corp acquired a new position in shares of Allstate in the fourth quarter valued at approximately $32,000. Braun Bostich & Associates Inc. acquired a new position in shares of Allstate in the fourth quarter valued at approximately $33,000. Keebeck Wealth Management LLC acquired a new position in shares of Allstate in the fourth quarter valued at approximately $36,000. Your Advocates Ltd. LLP acquired a new stake in Allstate during the first quarter worth approximately $37,000. Finally, Royal Fund Management LLC acquired a new stake in Allstate during the first quarter worth approximately $38,000. 76.93% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on ALL shares. ValuEngine downgraded Allstate from a “sell” rating to a “strong sell” rating in a report on Friday, May 8th. Raymond James raised their target price on Allstate from $110.00 to $120.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 21st. TheStreet raised shares of Allstate from a “c+” rating to a “b-” rating in a research report on Tuesday, April 21st. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating and dropped their price target for the company from $122.00 to $119.00 in a research report on Monday, April 13th. Finally, Cfra dropped their price target on shares of Allstate from $135.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $115.31.
NYSE:ALL traded up $0.69 during midday trading on Friday, hitting $94.82. The company had a trading volume of 1,510,228 shares, compared to its average volume of 2,113,055. Allstate Corp has a 52-week low of $64.13 and a 52-week high of $125.92. The stock’s fifty day moving average price is $98.24 and its 200-day moving average price is $106.88. The company has a market capitalization of $29.57 billion, a PE ratio of 7.95, a P/E/G ratio of 1.10 and a beta of 0.91. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30.
Allstate (NYSE:ALL) last announced its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.62. The company had revenue of $9.24 billion for the quarter, compared to analysts’ expectations of $9.64 billion. Allstate had a net margin of 9.38% and a return on equity of 17.53%. Allstate’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.30 earnings per share. As a group, research analysts forecast that Allstate Corp will post 11.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, May 29th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Thursday, May 28th. Allstate’s payout ratio is 20.71%.
Allstate Company Profile
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits 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 insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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