Varma Mutual Pension Insurance Co Grows Stock Holdings in The Allstate Corporation $ALL
by Amy Steele · The Cerbat GemVarma Mutual Pension Insurance Co boosted its position in The Allstate Corporation (NYSE:ALL – Free Report) by 11.9% in the 4th quarter, Holdings Channel reports. The fund owned 61,200 shares of the insurance provider’s stock after purchasing an additional 6,500 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Allstate were worth $12,739,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ALL. Robeco Institutional Asset Management B.V. grew its stake in Allstate by 1,766.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock worth $180,911,000 after acquiring an additional 822,583 shares during the period. Woodline Partners LP purchased a new stake in Allstate in the 3rd quarter worth approximately $148,641,000. Ameriprise Financial Inc. grew its stake in Allstate by 52.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock worth $279,062,000 after acquiring an additional 478,598 shares during the period. Danske Bank A S purchased a new stake in Allstate in the 3rd quarter worth approximately $100,596,000. Finally, Dimensional Fund Advisors LP grew its stake in Allstate by 18.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider’s stock worth $559,435,000 after acquiring an additional 401,700 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.
Allstate Stock Up 1.4%
Shares of NYSE ALL opened at $219.68 on Tuesday. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $221.19. The firm has a fifty day moving average of $210.35 and a 200-day moving average of $205.85. The stock has a market capitalization of $56.55 billion, a PE ratio of 4.85, a P/E/G ratio of 0.43 and a beta of 0.21. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25.
Allstate (NYSE:ALL – Get Free Report) last posted its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.53 EPS. On average, analysts anticipate that The Allstate Corporation will post 26.35 EPS for the current year.
Allstate Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. Allstate’s dividend payout ratio (DPR) is presently 9.53%.
Wall Street Analysts Forecast Growth
ALL has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $220.00 target price on shares of Allstate in a research note on Thursday, February 5th. Piper Sandler lifted their target price on shares of Allstate from $252.00 to $268.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup boosted their price objective on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Mizuho lowered their price objective on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $240.56.
Read Our Latest Stock Report on ALL
Insider Buying and Selling at Allstate
In related news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction on Friday, May 1st. The shares were 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 in the company, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.55% of the company’s stock.
Allstate 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.
Further Reading
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