Forsta AP Fonden Has $18.55 Million Position in The Allstate Corporation (NYSE:ALL)

Key Points

• Forsta AP Fonden increased its holdings in The Allstate Corporation by 9.9% in Q1, now owning 89,600 shares valued at approximately $18.5 million.
• Allstate recently reported an EPS of $5.94 for the last quarter, exceeding the consensus estimate by $2.74, despite revenue of $15.05 billion falling short of estimates.
• The company announced a quarterly dividend of $1.00 per share, yielding approximately 1.9%, with the ex-dividend date set for August 29th.

Forsta AP Fonden lifted its position in The Allstate Corporation (NYSE:ALL - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,600 shares of the insurance provider's stock after buying an additional 8,100 shares during the quarter. Forsta AP Fonden's holdings in Allstate were worth $18,553,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Allstate by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 32,800,086 shares of the insurance provider's stock valued at $6,791,914,000 after buying an additional 164,662 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Allstate by 2.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,334,926 shares of the insurance provider's stock valued at $1,799,681,000 after buying an additional 218,771 shares in the last quarter. Bank of America Corp DE boosted its position in Allstate by 157.9% during the fourth quarter. Bank of America Corp DE now owns 6,591,138 shares of the insurance provider's stock worth $1,270,705,000 after purchasing an additional 4,035,629 shares during the period. Northern Trust Corp boosted its position in Allstate by 15.8% during the fourth quarter. Northern Trust Corp now owns 3,496,017 shares of the insurance provider's stock worth $673,997,000 after purchasing an additional 477,221 shares during the period. Finally, Deutsche Bank AG boosted its position in Allstate by 7.2% during the fourth quarter. Deutsche Bank AG now owns 3,233,681 shares of the insurance provider's stock worth $623,421,000 after purchasing an additional 217,468 shares during the period. Institutional investors own 76.47% of the company's stock.

Allstate Stock Performance

Shares of ALL stock traded up $0.16 during trading hours on Tuesday, reaching $206.66. 1,246,055 shares of the company's stock were exchanged, compared to its average volume of 1,757,916. The Allstate Corporation has a fifty-two week low of $169.95 and a fifty-two week high of $213.18. The stock has a market capitalization of $54.46 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.86 and a beta of 0.35. The business has a fifty day moving average price of $198.19 and a 200-day moving average price of $198.09. 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 issued its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating analysts' consensus estimates of $3.20 by $2.74. The business had revenue of $15.05 billion during the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%. Allstate's 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. Analysts predict that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently disclosed 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 1.9%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio is currently 18.81%.

Wall Street Analyst Weigh In

ALL has been the subject of a number of recent analyst reports. Evercore ISI upped their target price on Allstate from $227.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. UBS Group upped their target price on Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wells Fargo & Company set a $202.00 target price on Allstate and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Cantor Fitzgerald initiated coverage on Allstate in a research report on Tuesday. They set a "neutral" rating for the company. Finally, Barclays reaffirmed an "underweight" rating and set a $198.00 target price (up previously from $188.00) on shares of Allstate in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate currently has a consensus rating of "Moderate Buy" and an average price target of $229.20.

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.