BI Asset Management Fondsmaeglerselskab A S Sells 40,871 Shares of The Allstate Corporation $ALL

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in The Allstate Corporation by 74.5%, selling 40,871 shares and leaving it with 14,008 shares valued at approximately $2.9 million.
• Several institutional investors have increased their positions in Allstate, with notable purchases including Hughes Financial Services LLC and Meeder Asset Management Inc., while institutional investors collectively own 76.47% of the company's stock.
• Allstate recently declared a quarterly dividend of $1.00 per share, amounting to an annualized dividend of $4.00 and a yield of 1.9%, with a payout ratio of 18.81%.

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 74.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,008 shares of the insurance provider's stock after selling 40,871 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Allstate were worth $2,901,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ALL. Hughes Financial Services LLC bought a new stake in shares of Allstate during the 1st quarter valued at $28,000. Kapitalo Investimentos Ltda bought a new stake in Allstate during the fourth quarter valued at about $29,000. Meeder Asset Management Inc. grew its holdings in Allstate by 113.8% during the first quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 99 shares during the period. McClarren Financial Advisors Inc. purchased a new stake in Allstate in the first quarter worth about $43,000. Finally, Mattson Financial Services LLC bought a new position in shares of Allstate in the fourth quarter worth about $44,000. Institutional investors own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays reiterated an "underweight" rating and set a $198.00 price objective (up from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Citigroup upgraded shares of Allstate to a "hold" rating in a research report on Wednesday, August 13th. Wall Street Zen raised shares of Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. William Blair began coverage on shares of Allstate in a research report on Friday, June 6th. They set a "sector outperform" rating on the stock. Finally, Cantor Fitzgerald raised shares of Allstate to a "hold" rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $230.73.

Allstate Stock Performance

Shares of NYSE ALL opened at $213.4930 on Thursday. The company has a market cap of $56.26 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.86 and a beta of 0.35. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $214.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The firm's fifty day moving average is $198.91 and its two-hundred day moving average is $198.81.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating 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 company had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same period in the prior year, the company earned $1.61 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. As a group, analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. Allstate's payout ratio is currently 18.81%.

Allstate 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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