2,398,637 Shares in The Allstate Corporation $ALL Purchased by Norges Bank

Norges Bank acquired a new stake in The Allstate Corporation (NYSE:ALL) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,398,637 shares of the insurance provider’s stock, valued at approximately $482,870,000. Norges Bank owned 0.91% of Allstate as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ALL. Guerra Pan Advisors LLC boosted its stake in shares of Allstate by 1.5% in the second quarter. Guerra Pan Advisors LLC now owns 3,426 shares of the insurance provider’s stock valued at $690,000 after buying an additional 49 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Allstate by 4.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,189 shares of the insurance provider’s stock valued at $239,000 after acquiring an additional 53 shares during the period. Linscomb Wealth Inc. grew its holdings in shares of Allstate by 1.3% during the 1st quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider’s stock worth $845,000 after purchasing an additional 54 shares in the last quarter. Ancora Advisors LLC increased its position in shares of Allstate by 0.7% in the first quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider’s stock worth $1,740,000 after purchasing an additional 55 shares during the period. Finally, Cooper Financial Group increased its position in shares of Allstate by 5.5% in the second quarter. Cooper Financial Group now owns 1,057 shares of the insurance provider’s stock worth $213,000 after purchasing an additional 55 shares during the period. 76.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ALL shares. Citigroup upgraded shares of Allstate to a “hold” rating in a research note on Wednesday, August 13th. Keefe, Bruyette & Woods increased their price target on shares of Allstate from $246.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Allstate in a research note on Wednesday, October 8th. Jefferies Financial Group upped their target price on Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Finally, BMO Capital Markets lifted their price target on Allstate from $235.00 to $244.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $237.92.

Allstate Trading Down 0.2%

NYSE ALL opened at $213.39 on Friday. The company has a market cap of $55.84 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The Allstate Corporation has a twelve month low of $176.00 and a twelve month high of $215.89. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average is $204.68 and its 200 day moving average is $202.43.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, beating the consensus estimate of $5.48 by $5.69. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The firm had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same period last year, the company earned $3.91 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, December 1st. Allstate’s dividend payout ratio (DPR) is 12.95%.

Insider Buying and Selling

In other Allstate news, insider Suren Gupta sold 600 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $215.02, for a total transaction of $129,012.00. Following the sale, the insider directly owned 100,646 shares of the company’s stock, valued at $21,640,902.92. The trade was a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 24,271 shares of company stock worth $5,222,986. 1.70% of the stock is owned by company insiders.

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.