The Allstate Corporation (NYSE:ALL) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its stake in The Allstate Corporation by 15.6%, owning 150,364 shares valued at approximately $31.1 million as of its latest SEC filing.
• Wall Street analysts have a consensus rating of Moderate Buy for Allstate, with an average target price of $227.07, following multiple price target increases from various analysts.
• Allstate recently missed earnings estimates with a reported $3.53 earnings per share for the quarter, alongside a revenue of $14.30 billion, indicating potential challenges ahead.

Skandinaviska Enskilda Banken AB publ reduced its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 15.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,364 shares of the insurance provider's stock after selling 27,859 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.06% of Allstate worth $31,136,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC increased its stake in Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after acquiring an additional 2,443 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Allstate during the 4th quarter valued at approximately $231,000. Stenger Family Office LLC acquired a new stake in Allstate during the 4th quarter valued at approximately $439,000. LPL Financial LLC grew its stake in Allstate by 13.2% during the 4th quarter. LPL Financial LLC now owns 250,211 shares of the insurance provider's stock valued at $48,238,000 after purchasing an additional 29,238 shares in the last quarter. Finally, Ausdal Financial Partners Inc. grew its stake in Allstate by 23.4% during the 4th quarter. Ausdal Financial Partners Inc. now owns 2,976 shares of the insurance provider's stock valued at $574,000 after purchasing an additional 565 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Performance

Shares of NYSE ALL traded up $0.04 during mid-day trading on Wednesday, hitting $193.94. The company had a trading volume of 438,625 shares, compared to its average volume of 1,747,253. The stock has a market cap of $51.36 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.00 and a beta of 0.33. The Allstate Corporation has a 12 month low of $168.36 and a 12 month high of $213.18. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.40 and a quick ratio of 0.40. The firm's 50 day simple moving average is $198.69 and its two-hundred day simple moving average is $197.01.

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

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Friday, August 29th. Allstate's payout ratio is currently 27.32%.

Analyst Ratings Changes

ALL has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Wall Street Zen lowered Allstate from a "buy" rating to a "hold" rating in a research note on Monday. William Blair initiated coverage on Allstate in a research note on Friday, June 6th. They set a "sector outperform" rating for the company. Keefe, Bruyette & Woods raised their price objective on Allstate from $235.00 to $237.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Allstate in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Allstate presently has an average rating of "Moderate Buy" and an average target price of $227.07.

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.