KLP Kapitalforvaltning AS Raises Stake in The Allstate Corporation $ALL

Key Points

• KLP Kapitalforvaltning AS increased its stake in The Allstate Corporation by 8.6%, acquiring an additional 7,500 shares, bringing its total holdings to 94,968 shares valued at approximately $19.2 million.
• Analysts have given Allstate a consensus rating of "Moderate Buy" with a target price of $232.50, with recent price targets set as high as $255 by Jefferies Financial Group.
• Allstate announced a quarterly dividend of $1.00 per share, translating to an annualized yield of 1.9%, with a payout ratio of 18.81%.

KLP Kapitalforvaltning AS increased its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 8.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 94,968 shares of the insurance provider's stock after purchasing an additional 7,500 shares during the period. KLP Kapitalforvaltning AS's holdings in Allstate were worth $19,199,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group increased its stake in shares of Allstate by 3.2% during the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock valued at $338,000 after buying an additional 51 shares during the period. Vantage Point Financial LLC boosted its position in shares of Allstate by 3.6% during the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock valued at $310,000 after purchasing an additional 52 shares in the last quarter. Confluence Wealth Services Inc. boosted its position in shares of Allstate by 0.7% during the first quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock valued at $1,558,000 after purchasing an additional 54 shares in the last quarter. Linscomb Wealth Inc. boosted its position in shares of Allstate by 1.3% during the first quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider's stock valued at $845,000 after purchasing an additional 54 shares in the last quarter. Finally, Ancora Advisors LLC boosted its position in shares of Allstate by 0.7% during the first quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider's stock valued at $1,740,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ALL. Citigroup upgraded Allstate to a "hold" rating in a research report on Wednesday, August 13th. Roth Capital set a $230.00 price target on Allstate and gave the company a "buy" rating in a research report on Friday, September 26th. Morgan Stanley lifted their price target on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wolfe Research raised Allstate to a "strong-buy" rating in a report on Tuesday, September 16th. Finally, Jefferies Financial Group increased their target price on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.50.

Allstate Trading Up 0.3%

NYSE ALL opened at $212.46 on Thursday. The stock has a market cap of $55.99 billion, a P/E ratio of 9.99, a P/E/G ratio of 0.82 and a beta of 0.38. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $215.70. The stock's fifty day moving average price is $205.82 and its 200-day moving average price is $201.13.

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

Allstate Announces Dividend

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

About Allstate

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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