Swedbank AB Acquires 447,522 Shares of The Allstate Corporation $ALL

Key Points

• Swedbank AB increased its stake in The Allstate Corporation by 51.9%, buying 447,522 shares to own 1,309,247 shares (about 0.50%) valued at roughly $272.5 million.
• Allstate posted a strong quarter, beating estimates with $10.65 EPS vs. $7.31 expected and $16.94 billion in revenue, while reporting a 42.66% ROE and trading at a low P/E of 4.82 on a $56.26 billion market cap.
• Institutional interest is high—hedge funds and other institutions own about 76.47% of Allstate, with major managers like Robeco, Ameriprise and Dimensional significantly increasing positions recently.

Swedbank AB grew its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 51.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,309,247 shares of the insurance provider's stock after buying an additional 447,522 shares during the period. Swedbank AB owned 0.50% of Allstate worth $272,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. grew its stake in Allstate by 1,766.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider's stock valued at $180,911,000 after acquiring an additional 822,583 shares in the last quarter. Woodline Partners LP purchased a new stake in Allstate in the 3rd quarter worth $148,641,000. Ameriprise Financial Inc. boosted its holdings in shares of Allstate by 52.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider's stock valued at $279,062,000 after purchasing an additional 478,598 shares during the last quarter. Danske Bank A S bought a new position in shares of Allstate during the 3rd quarter valued at about $100,596,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Allstate by 18.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider's stock valued at $559,435,000 after purchasing an additional 401,700 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Allstate Stock Down 0.6%

Shares of NYSE:ALL opened at $218.55 on Wednesday. The company has a market cap of $56.26 billion, a price-to-earnings ratio of 4.82, a PEG ratio of 0.43 and a beta of 0.21. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $222.23. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $210.59 and a 200 day moving average price of $205.97.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion for the quarter, compared to analysts' expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.53 earnings per share. As a group, equities research analysts predict that The Allstate Corporation will post 27.15 earnings per share for the current year.

Insider Buying and Selling at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer owned 82,227 shares of the company's stock, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.55% of the company's stock.

Wall Street Analyst Weigh In

ALL has been the topic of a number of research analyst reports. Barclays boosted their target price on Allstate from $207.00 to $208.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 8th. Wells Fargo & Company raised their price target on Allstate from $227.00 to $229.00 and gave the company an "equal weight" rating in a report on Thursday, April 9th. Piper Sandler lifted their price objective on Allstate from $252.00 to $268.00 and gave the stock an "overweight" rating in a research note on Friday. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $220.00 price objective on shares of Allstate in a report on Thursday, February 5th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $231.00 target price on shares of Allstate in a research report on Thursday, March 5th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $240.56.

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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