Dai ichi Life Insurance Company Ltd Trims Stock Position in The Allstate Co. (NYSE:ALL)

Dai ichi Life Insurance Company Ltd decreased its position in The Allstate Co. (NYSE:ALL) by 14.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,267 shares of the insurance provider’s stock after selling 7,112 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Allstate were worth $8,016,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caxton Associates LP acquired a new stake in shares of Allstate during the 1st quarter worth about $490,000. B. Riley Wealth Advisors Inc. increased its position in shares of Allstate by 28.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,945 shares of the insurance provider’s stock valued at $683,000 after acquiring an additional 873 shares during the last quarter. Levin Capital Strategies L.P. purchased a new stake in shares of Allstate in the 1st quarter valued at approximately $225,000. Tidal Investments LLC lifted its holdings in shares of Allstate by 35.4% in the 1st quarter. Tidal Investments LLC now owns 27,999 shares of the insurance provider’s stock worth $4,844,000 after acquiring an additional 7,324 shares during the last quarter. Finally, Alethea Capital Management LLC purchased a new position in shares of Allstate during the 1st quarter worth approximately $578,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Raymond James increased their target price on Allstate from $205.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. Jefferies Financial Group raised their price objective on shares of Allstate from $231.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Evercore ISI lifted their price objective on shares of Allstate from $191.00 to $195.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. Barclays raised their price target on shares of Allstate from $175.00 to $187.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. Finally, TD Cowen upped their price target on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $217.19.

Allstate Trading Down 0.8 %

NYSE:ALL opened at $202.14 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.43. The stock’s 50 day simple moving average is $191.64 and its 200-day simple moving average is $178.11. The Allstate Co. has a 12-month low of $134.17 and a 12-month high of $205.35. The firm has a market cap of $53.53 billion, a P/E ratio of 13.09, a PEG ratio of 1.81 and a beta of 0.48.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $1.71. Allstate had a net margin of 6.77% and a return on equity of 26.67%. The business had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the business posted $0.81 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. Equities analysts anticipate that The Allstate Co. will post 16.07 EPS for the current year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a $0.92 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.82%. Allstate’s dividend payout ratio is presently 23.83%.

Insider Activity

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now directly owns 27,364 shares in the company, valued at approximately $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

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.