KLP Kapitalforvaltning AS Trims Stock Position in The Allstate Corporation (NYSE:ALL)

KLP Kapitalforvaltning AS trimmed its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,468 shares of the insurance provider's stock after selling 12,600 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Allstate were worth $18,187,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Hughes Financial Services LLC bought a new position in Allstate during the 1st quarter worth about $28,000. Kapitalo Investimentos Ltda purchased a new position in Allstate during the fourth quarter valued at approximately $29,000. Aster Capital Management DIFC Ltd bought a new position in Allstate in the fourth quarter worth approximately $40,000. Mattson Financial Services LLC bought a new position in Allstate in the fourth quarter worth approximately $44,000. Finally, Wayfinding Financial LLC bought a new stake in Allstate during the 1st quarter valued at $54,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Price Performance

ALL stock traded up $1.91 during mid-day trading on Friday, reaching $195.85. The company's stock had a trading volume of 1,370,899 shares, compared to its average volume of 1,562,177. The stock has a market cap of $51.86 billion, a PE ratio of 13.38, a P/E/G ratio of 1.00 and a beta of 0.33. The company's 50 day moving average is $199.34 and its two-hundred day moving average is $196.88. The Allstate Corporation has a fifty-two week low of $166.46 and a fifty-two week high of $213.18. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). The firm had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $16.41 billion. Allstate had a net margin of 6.19% and a return on equity of 24.62%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $5.13 EPS. Equities research analysts expect that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be issued a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.04%. Allstate's dividend payout ratio is presently 27.32%.

Analysts Set New Price Targets

ALL has been the subject of a number of analyst reports. Raymond James Financial reissued a "strong-buy" rating and set a $250.00 target price (up previously from $240.00) on shares of Allstate in a research report on Monday, May 5th. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research note on Sunday, July 20th. Evercore ISI lifted their price objective on shares of Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. UBS Group boosted their price target on Allstate from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on Allstate from $217.00 to $222.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $227.07.

Allstate Company 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.