Forsta AP Fonden Sells 11,600 Shares of The Allstate Co. (NYSE:ALL)

Forsta AP Fonden lessened its stake in shares of The Allstate Co. (NYSE:ALL) by 12.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 81,500 shares of the insurance provider’s stock after selling 11,600 shares during the period. Forsta AP Fonden’s holdings in Allstate were worth $15,712,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. Pathway Financial Advisers LLC increased its position in Allstate by 18,472.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after buying an additional 1,047,019 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Allstate by 18.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after buying an additional 472,040 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in Allstate during the 3rd quarter valued at approximately $77,819,000. Los Angeles Capital Management LLC increased its position in Allstate by 688.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 460,282 shares of the insurance provider’s stock valued at $87,292,000 after buying an additional 401,901 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Allstate by 291.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 356,065 shares of the insurance provider’s stock valued at $67,528,000 after buying an additional 265,213 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Allstate Price Performance

NYSE ALL opened at $191.10 on Thursday. The company has a market capitalization of $50.60 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40. The business’s fifty day moving average is $194.46 and its 200 day moving average is $188.07. The Allstate Co. has a fifty-two week low of $153.42 and a fifty-two week high of $209.88.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.71. The company had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. Allstate’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. Sell-side analysts predict that The Allstate Co. will post 16.83 earnings per share for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, November 29th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $3.68 annualized dividend and a yield of 1.93%. Allstate’s dividend payout ratio (DPR) is presently 23.83%.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on Allstate from $235.00 to $243.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Barclays reduced their target price on Allstate from $187.00 to $183.00 and set an “underweight” rating for the company in a report on Monday, January 6th. Morgan Stanley lifted their target price on Allstate from $220.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their target price on Allstate from $209.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $218.13.

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.