The Allstate Co. (NYSE:ALL) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd reduced its position in shares of The Allstate Co. (NYSE:ALL) by 14.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 42,267 shares of the insurance provider’s stock after selling 7,112 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Allstate were worth $8,016,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in Allstate in the third quarter valued at $28,000. Catalyst Capital Advisors LLC purchased a new stake in Allstate in the 3rd quarter valued at about $29,000. Versant Capital Management Inc increased its stake in shares of Allstate by 70.9% during the 2nd quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Allstate during the 2nd quarter worth about $38,000. Finally, MCF Advisors LLC boosted its position in shares of Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 84 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Performance

Allstate stock opened at $202.14 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The firm’s fifty day moving average price is $191.64 and its 200 day moving average price is $178.11. The company has a market capitalization of $53.53 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. The Allstate Co. has a 12-month low of $134.17 and a 12-month high of $205.35.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $1.71. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the business posted $0.81 earnings per share. Allstate’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, research analysts forecast that The Allstate Co. will post 16.07 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Friday, November 29th. Allstate’s payout ratio is currently 23.83%.

Analyst Ratings Changes

ALL has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Allstate from $222.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Roth Mkm restated a “buy” rating and set a $200.00 price objective on shares of Allstate in a report on Wednesday, August 14th. UBS Group increased their target price on Allstate from $216.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Piper Sandler boosted their price target on Allstate from $206.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $217.19.

Insider Activity at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the transaction, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This trade represents a 57.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

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.