AMF Tjanstepension AB Buys 6,295 Shares of The Allstate Corporation $ALL

Key Points

• AMF Tjanstepension AB increased its stake in Allstate by 3.2% in the first quarter, buying 6,295 additional shares and bringing its total holding to 203,131 shares worth about $42.1 million.
• Several analysts remain constructive on Allstate: Raymond James lifted its price target to $300 and kept a strong-buy rating, while the stock’s overall consensus remains a Moderate Buy with a target price of $248.26.
• Allstate recently beat expectations with Q1 earnings of $10.65 per share versus $7.31 expected and revenue of $16.94 billion, while also declaring a quarterly dividend of $1.08 per share.

AMF Tjanstepension AB raised its position in The Allstate Corporation (NYSE:ALL - Free Report) by 3.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 203,131 shares of the insurance provider's stock after buying an additional 6,295 shares during the period. AMF Tjanstepension AB owned about 0.08% of Allstate worth $42,117,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MV Capital Management Inc. bought a new position in Allstate in the fourth quarter valued at about $25,000. Dorato Capital Management acquired a new position in Allstate during the 4th quarter valued at about $27,000. Navalign LLC bought a new position in shares of Allstate in the 4th quarter valued at about $27,000. Evolution Wealth Management Inc. boosted its stake in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Finally, Princeton Global Asset Management LLC boosted its stake in shares of Allstate by 101.3% in the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 76 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the transaction, the director directly owned 2,225 shares of the company's stock, valued at $451,474.75. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mario Rizzo sold 18,578 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares of the company's stock, valued at approximately $17,991,267.60. This represents a 18.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 22,353 shares of company stock valued at $4,851,560 in the last quarter. 1.55% of the stock is currently owned by insiders.

Allstate News Summary

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Mizuho raised its price target on Allstate to $272 from $255 and kept an outperform rating, signaling confidence that the stock still has upside from recent levels.
• Positive Sentiment: Several recent articles argued that Allstate looks undervalued after earnings and may benefit from a relatively favorable catastrophe year, which could help underwriting results and profits.
• Neutral Sentiment: Allstate declared a quarterly dividend of $1.08 per share, reinforcing shareholder returns but not necessarily changing the near-term trading story.
• Neutral Sentiment: Comparative coverage versus Progressive and other insurance peers kept attention on Allstate’s valuation, but this was more of a relative-stock discussion than a direct catalyst.
• Negative Sentiment: Oklahoma Attorney General Gentner Drummond sued Allstate, alleging the insurer defrauded customers, adding a fresh legal overhang that could raise compliance and settlement concerns. Article Title
• Negative Sentiment: Allstate also drew attention after accusing Broadcom of auditing it because it ended its VMware/CA relationship, another sign of ongoing legal or contractual friction. Article Title

Analyst Ratings Changes

A number of analysts have commented on the stock. Raymond James Financial lifted their target price on shares of Allstate from $260.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Monday, July 6th. Wells Fargo & Company upped their price objective on Allstate from $229.00 to $243.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Piper Sandler reissued an "overweight" rating on shares of Allstate in a research note on Thursday, May 28th. Barclays raised their target price on Allstate from $203.00 to $213.00 and gave the stock an "underweight" rating in a report on Tuesday, July 7th. Finally, Citigroup boosted their target price on Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $248.26.

Allstate Trading Up 0.0%

NYSE ALL opened at $251.64 on Monday. The company has a market cap of $64.78 billion, a PE ratio of 5.55, a PEG ratio of 0.44 and a beta of 0.16. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $257.67. The stock has a 50 day moving average of $224.15 and a 200-day moving average of $213.04.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.53 earnings per share. On average, equities research analysts anticipate that The Allstate Corporation will post 29.99 EPS for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate's dividend payout ratio is 9.53%.

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.

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