Daiwa Securities Group Inc. Buys 16,676 Shares of The Allstate Corporation $ALL

Key Points

• Daiwa Securities Group Inc. boosted its stake in Allstate by 25.3% in the fourth quarter, buying 16,676 additional shares and bringing its total holdings to 82,666 shares worth about $17.2 million.
• Allstate beat earnings expectations in its latest quarterly report, posting $10.65 EPS versus the $7.31 consensus and revenue of $16.94 billion, while revenue rose 3% year over year.
• The company declared a quarterly dividend of $1.08 per share, payable July 1, and analysts currently rate the stock a “Moderate Buy” with an average price target of $241.67.

Daiwa Securities Group Inc. grew its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 25.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,666 shares of the insurance provider's stock after purchasing an additional 16,676 shares during the period. Daiwa Securities Group Inc.'s holdings in Allstate were worth $17,207,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Caprock Group LLC acquired a new position in Allstate during the third quarter worth $3,598,000. CIBC Bancorp USA Inc. acquired a new position in Allstate during the third quarter worth $7,814,000. Elo Mutual Pension Insurance Co grew its holdings in Allstate by 39.6% during the third quarter. Elo Mutual Pension Insurance Co now owns 40,298 shares of the insurance provider's stock worth $8,650,000 after acquiring an additional 11,431 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Allstate by 5.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 552,120 shares of the insurance provider's stock worth $112,533,000 after acquiring an additional 26,586 shares during the period. Finally, Varma Mutual Pension Insurance Co grew its holdings in Allstate by 22.1% during the third quarter. Varma Mutual Pension Insurance Co now owns 54,700 shares of the insurance provider's stock worth $11,741,000 after acquiring an additional 9,900 shares during the period. 76.47% of the stock is owned by institutional investors.

Allstate Stock Up 4.8%

ALL opened at $220.98 on Friday. The business's fifty day moving average is $213.31 and its two-hundred day moving average is $208.65. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $56.88 billion, a price-to-earnings ratio of 4.87, a PEG ratio of 0.38 and a beta of 0.18. The Allstate Corporation has a one year low of $188.08 and a one year high of $227.62.

Allstate (NYSE:ALL - Get Free Report) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.Allstate's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.53 earnings per share. Analysts anticipate that The Allstate Corporation will post 29.43 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, June 1st. Allstate's dividend payout ratio is currently 9.53%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ALL shares. Wall Street Zen lowered Allstate from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Mizuho dropped their price objective on Allstate from $281.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, March 20th. Zacks Research lowered Allstate from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. Citigroup upped their price objective on Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Finally, Wells Fargo & Company boosted their target price on Allstate from $229.00 to $243.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Allstate currently has a consensus rating of "Moderate Buy" and an average target price of $241.67.

Insider Activity

In other news, Director Andrea Redmond sold 2,225 shares of the business'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 value of $451,474.75. Following the completion of the transaction, the director owned 2,225 shares of the company's stock, valued at $451,474.75. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the business's 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 transaction, the insider directly owned 27,558 shares of the company's stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,353 shares of company stock worth $4,851,560 over the last three months. 1.55% of the stock is currently owned by corporate insiders.

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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