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

Dai ichi Life Insurance Company Ltd lifted its stake in The Allstate Co. (NYSE:ALL) by 668.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,379 shares of the insurance provider’s stock after purchasing an additional 42,951 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Allstate were worth $7,884,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rise Advisors LLC acquired a new position in shares of Allstate during the first quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Allstate in the 1st quarter valued at $26,000. Private Wealth Management Group LLC purchased a new stake in shares of Allstate during the 4th quarter worth $25,000. Versant Capital Management Inc grew its stake in shares of Allstate by 70.9% during the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in Allstate in the second quarter valued at $38,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ALL shares. TD Cowen upped their price objective on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. increased their price target on shares of Allstate from $193.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Bank of America boosted their price objective on shares of Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets increased their target price on shares of Allstate from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company reduced their price target on shares of Allstate from $177.00 to $175.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Insiders Place Their Bets

In related news, insider Suren Gupta sold 45,775 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the sale, the insider now owns 89,930 shares of the company’s stock, valued at $15,942,790.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Elizabeth Brady sold 49,481 shares of Allstate stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the transaction, the executive vice president now owns 19,163 shares of the company’s stock, valued at approximately $3,431,901.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Suren Gupta sold 45,775 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares in the company, valued at $15,942,790.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,938 shares of company stock worth $36,122,740. Corporate insiders own 1.80% of the company’s stock.

Allstate Stock Up 1.2 %

Shares of NYSE:ALL opened at $188.30 on Friday. The company has a market cap of $49.72 billion, a price-to-earnings ratio of 41.57, a PEG ratio of 1.74 and a beta of 0.48. The Allstate Co. has a fifty-two week low of $108.16 and a fifty-two week high of $191.33. The firm’s 50-day simple moving average is $176.43 and its 200-day simple moving average is $169.11. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($4.42) EPS. As a group, equities research analysts predict that The Allstate Co. will post 15.16 earnings per share for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, August 30th. This represents a $3.68 annualized dividend and a dividend yield of 1.95%. Allstate’s payout ratio is currently 81.24%.

Allstate Company Profile

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.