Arbejdsmarkedets Tillaegspension Acquires 6,529 Shares of The Allstate Corporation $ALL

Key Points

• Arbejdsmarkedets Tillaegspension increased its Allstate stake by 5.6% in the first quarter, buying 6,529 additional shares and bringing its total to 122,216 shares valued at about $25.34 million.
• Allstate reported strong quarterly earnings, posting $10.65 per share versus expectations of $7.31 and revenue of $16.94 billion, while Wall Street analysts largely remain constructive with a consensus rating of Moderate Buy.
• The company also declared a quarterly dividend of $1.08 per share, but the stock faces some overhangs from recent insider selling and a lawsuit filed by the Oklahoma Attorney General alleging fraud.

Arbejdsmarkedets Tillaegspension grew its holdings in The Allstate Corporation (NYSE:ALL - Free Report) by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,216 shares of the insurance provider's stock after purchasing an additional 6,529 shares during the period. Arbejdsmarkedets Tillaegspension's holdings in Allstate were worth $25,340,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In related news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total transaction of $335,218.50. Following the completion of the sale, the insider owned 27,558 shares of the company's stock, valued at $5,959,968.66. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrea Redmond sold 2,225 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director owned 2,225 shares of the company's stock, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 22,353 shares of company stock worth $4,851,560. Corporate insiders own 1.55% of the company's stock.

Key Allstate News

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

Allstate Trading Up 0.0%

ALL opened at $251.64 on Monday. The firm has a market cap of $64.78 billion, a price-to-earnings 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 fifty day moving average price of $224.15 and a 200-day moving average price of $213.04.

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

Allstate Announces Dividend

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

Wall Street Analysts Forecast Growth

ALL has been the topic of several research reports. Keefe, Bruyette & Woods raised their price objective on Allstate from $242.00 to $255.00 and gave the stock a "market perform" rating in a report on Wednesday, July 8th. Mizuho raised their price target on Allstate from $255.00 to $272.00 and gave the company an "outperform" rating in a research note on Thursday. Wall Street Zen downgraded Allstate from a "buy" rating to a "hold" rating in a report on Sunday. Piper Sandler reiterated an "overweight" rating on shares of Allstate in a report on Thursday, May 28th. Finally, Weiss Ratings reissued a "buy (a-)" rating on shares of Allstate in a research report on Thursday, June 18th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $248.26.

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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