AMF Tjanstepension AB Has $30.49 Million Holdings in The Allstate Corporation (NYSE:ALL)

Key Points

• AMF Tjanstepension AB holds approximately $30.49 million in The Allstate Corporation after reducing its stake by 1.3% in the first quarter.
• Analysts have generally positive views on Allstate, with fifteen analysts rating the stock as a buy and a consensus price target of $230.00.
• Allstate recently reported earnings of $5.94 per share, significantly exceeding analyst estimates of $3.20, and announced a quarterly dividend of $1.00 payable on October 1st.

AMF Tjanstepension AB lessened its position in The Allstate Corporation (NYSE:ALL - Free Report) by 1.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 147,135 shares of the insurance provider's stock after selling 1,864 shares during the period. AMF Tjanstepension AB owned approximately 0.06% of Allstate worth $30,490,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ALL. Sequoia Financial Advisors LLC lifted its holdings in shares of Allstate by 30.3% in the first quarter. Sequoia Financial Advisors LLC now owns 11,361 shares of the insurance provider's stock valued at $2,352,000 after purchasing an additional 2,643 shares in the last quarter. Richard Bernstein Advisors LLC bought a new position in shares of Allstate in the first quarter valued at approximately $3,341,000. Dock Street Asset Management Inc. bought a new position in shares of Allstate in the first quarter valued at approximately $207,000. First Citizens Bank & Trust Co. lifted its holdings in shares of Allstate by 5.5% in the first quarter. First Citizens Bank & Trust Co. now owns 57,499 shares of the insurance provider's stock valued at $11,906,000 after purchasing an additional 2,981 shares in the last quarter. Finally, Blackstone Inc. bought a new position in shares of Allstate in the fourth quarter valued at approximately $52,053,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ALL shares. Keefe, Bruyette & Woods raised their target price on Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a report on Wednesday. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a report on Tuesday. Barclays restated an "underweight" rating and issued a $198.00 target price (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. Wells Fargo & Company set a $202.00 target price on Allstate and gave the company an "equal weight" rating in a report on Tuesday. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Allstate in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $230.00.

Allstate Stock Performance

NYSE:ALL opened at $204.86 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The business has a fifty day simple moving average of $198.37 and a two-hundred day simple moving average of $197.65. The Allstate Corporation has a 1 year low of $169.20 and a 1 year high of $213.18. The company has a market capitalization of $53.98 billion, a P/E ratio of 9.63, a P/E/G ratio of 0.87 and a beta of 0.35.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%. The business had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same period last year, the business posted $1.61 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Allstate's payout ratio is 18.81%.

Allstate Company Profile

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.

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