Swedbank AB Increases Holdings in The Allstate Corporation $ALL

Key Points

• Swedbank AB increased its stake in The Allstate Corporation by 5.8%, holding 38,166 shares worth approximately $7.68 million as of the end of the recent quarter.
• Allstate reported earnings of $5.94 per share, significantly surpassing analysts' expectations of $3.20, with a quarterly revenue of $15.05 billion.
• The company declared a quarterly dividend of $1.00 per share, representing an annualized yield of 1.9%, payable to stockholders on October 1st.

Swedbank AB lifted its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,166 shares of the insurance provider's stock after acquiring an additional 2,090 shares during the period. Swedbank AB's holdings in Allstate were worth $7,683,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Arlington Trust Co LLC raised its position in shares of Allstate by 261.8% in the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider's stock worth $25,000 after acquiring an additional 89 shares in the last quarter. Hughes Financial Services LLC acquired a new position in Allstate during the 1st quarter valued at about $28,000. Meeder Asset Management Inc. increased its position in Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider's stock valued at $39,000 after buying an additional 99 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new position in Allstate during the 1st quarter valued at about $43,000. Finally, Mattson Financial Services LLC acquired a new position in Allstate during the 4th quarter valued at about $44,000. 76.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ALL shares. William Blair started coverage on Allstate in a report on Friday, June 6th. They issued a "sector outperform" rating on the stock. Keefe, Bruyette & Woods raised their target price on Allstate from $237.00 to $246.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Wolfe Research raised Allstate to a "strong-buy" rating in a report on Tuesday, September 16th. Jefferies Financial Group raised their target price on Allstate from $254.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, Citigroup raised Allstate to a "hold" rating in a report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Allstate currently has an average rating of "Moderate Buy" and a consensus target price of $231.47.

Allstate Price Performance

Shares of NYSE ALL traded up $0.45 during midday trading on Monday, hitting $206.49. The stock had a trading volume of 1,821,870 shares, compared to its average volume of 1,346,719. The company has a market capitalization of $54.41 billion, a PE ratio of 9.71, a P/E/G ratio of 0.82 and a beta of 0.37. The stock has a 50 day simple moving average of $201.63 and a 200-day simple moving average of $200.52. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $214.76. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $3.20 by $2.74. The business 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 business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 earnings per share. On average, sell-side analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, August 29th. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. Allstate's dividend payout ratio (DPR) 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.