Danske Bank A S Purchases Shares of 426,941 The Allstate Corporation $ALL

Key Points

• Danske Bank acquired 426,941 Allstate shares worth approximately $101.6 million, giving it a roughly 0.17% stake. Institutional investors and hedge funds collectively own 76.47% of Allstate.
• Allstate reported quarterly EPS of $8.99, beating analyst expectations of $6.06, while revenue rose 11.8% year over year to $15.43 billion. The company also declared a quarterly dividend of $1.08, equivalent to a 1.7% annual yield.
• Allstate shares opened at $261.27, near analysts’ average price target of $265.53. However, insiders have sold 92,996 shares worth about $24.5 million over the past three months.

Danske Bank A S acquired a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 426,941 shares of the insurance provider's stock, valued at approximately $101,586,000. Danske Bank A S owned about 0.17% of Allstate as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ALL. Coldstream Capital Management Inc. increased its stake in shares of Allstate by 0.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider's stock worth $1,625,000 after purchasing an additional 50 shares during the period. Compound Planning Inc. boosted its stake in Allstate by 1.6% in the 4th quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider's stock valued at $669,000 after purchasing an additional 50 shares during the period. Cullen Frost Bankers Inc. grew its holdings in Allstate by 0.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider's stock valued at $1,210,000 after buying an additional 52 shares in the last quarter. Root Financial Partners LLC grew its holdings in Allstate by 4.7% in the 1st quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider's stock valued at $243,000 after buying an additional 53 shares in the last quarter. Finally, Montag A & Associates Inc. increased its position in Allstate by 10.2% during the 4th quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider's stock worth $125,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 76.47% of the company's stock.

Insiders Place Their Bets

In other Allstate news, COO Mario Rizzo sold 56,225 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the transaction, the chief operating officer owned 82,227 shares of the company's stock, valued at approximately $21,747,396.96. The trade was a 40.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction dated Friday, May 22nd. The stock was 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 $5,959,968.66. This trade represents a 5.32% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 92,996 shares of company stock worth $24,543,894. Insiders own 1.55% of the company's stock.

Allstate Stock Up 1.2%

NYSE ALL opened at $261.27 on Wednesday. The business has a fifty day moving average price of $248.26 and a two-hundred day moving average price of $223.92. The stock has a market capitalization of $66.06 billion, a PE ratio of 5.22, a PEG ratio of 0.41 and a beta of 0.16. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The company had revenue of $15.43 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same quarter last year, the company posted $5.94 EPS. The company's revenue for the quarter was up 11.8% compared to the same quarter last year. Equities analysts expect that The Allstate Corporation will post 34.2 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given 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 payout ratio is currently 8.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALL. Roth Capital set a $300.00 target price on shares of Allstate in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised their price target on Allstate from $282.00 to $292.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $280.00 price target on shares of Allstate in a research note on Friday, August 7th. Barclays upped their price objective on shares of Allstate from $213.00 to $226.00 and gave the stock an "underweight" rating in a research report on Thursday, August 6th. Finally, Mizuho increased their price objective on shares of Allstate from $255.00 to $272.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $265.53.

Allstate 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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