Varma Mutual Pension Insurance Co Purchases 9,900 Shares of The Allstate Corporation $ALL

Varma Mutual Pension Insurance Co lifted its position in shares of The Allstate Corporation (NYSE:ALL) by 22.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 54,700 shares of the insurance provider’s stock after purchasing an additional 9,900 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Allstate were worth $11,741,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. grew its holdings in Allstate by 79.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 55 shares during the period. Barnes Dennig Private Wealth Management LLC lifted its stake in shares of Allstate by 112.3% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 73 shares during the period. Clearstead Trust LLC boosted its position in shares of Allstate by 3,800.0% during the 2nd quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 152 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Allstate by 315.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 126 shares during the period. Finally, Armstrong Advisory Group Inc. grew its stake in Allstate by 72.0% during the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALL shares. Citigroup boosted their target price on shares of Allstate from $216.00 to $221.00 and gave the company a “neutral” rating in a research report on Tuesday. Roth Mkm upped their price objective on shares of Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. JPMorgan Chase & Co. raised their target price on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. TD Cowen lowered Allstate from a “buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Evercore set a $225.00 price target on Allstate in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.35.

Allstate Trading Up 0.8%

NYSE:ALL opened at $206.41 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.43. The firm has a 50-day moving average of $203.43 and a 200-day moving average of $203.97. The company has a market cap of $54.01 billion, a PE ratio of 5.40, a PEG ratio of 0.43 and a beta of 0.23. The Allstate Corporation has a one year low of $176.00 and a one year high of $216.75.

Allstate (NYSE:ALL) last announced its quarterly earnings results on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share for the quarter, beating the consensus estimate of $8.72 by $5.59. The business had revenue of $14.57 billion for the quarter, compared to analysts’ expectations of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $7.67 EPS. As a group, equities research analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a $1.08 dividend. This is a boost from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, March 2nd. Allstate’s dividend payout ratio is 10.47%.

Insider Activity

In related news, insider Suren Gupta sold 21,871 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $215.21, for a total transaction of $4,706,857.91. Following the completion of the sale, the insider owned 100,646 shares in the company, valued at approximately $21,660,025.66. This represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 47,000 shares of company stock worth $10,012,228 over the last 90 days. 1.70% of the stock is owned by insiders.

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.