Nordea Investment Management AB Sells 196,657 Shares of The Allstate Co. (NYSE:ALL)

Nordea Investment Management AB reduced its position in shares of The Allstate Co. (NYSE:ALL) by 15.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,097,332 shares of the insurance provider’s stock after selling 196,657 shares during the period. Nordea Investment Management AB owned about 0.42% of Allstate worth $119,960,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALL. Apollon Wealth Management LLC increased its stake in Allstate by 2.5% in the 4th quarter. Apollon Wealth Management LLC now owns 3,214 shares of the insurance provider’s stock worth $436,000 after purchasing an additional 78 shares during the period. Citizens Financial Group Inc RI increased its stake in shares of Allstate by 3.2% during the fourth quarter. Citizens Financial Group Inc RI now owns 2,645 shares of the insurance provider’s stock valued at $361,000 after buying an additional 82 shares during the period. BLB&B Advisors LLC increased its stake in shares of Allstate by 2.9% during the first quarter. BLB&B Advisors LLC now owns 3,194 shares of the insurance provider’s stock valued at $354,000 after buying an additional 91 shares during the period. CVA Family Office LLC increased its stake in shares of Allstate by 48.4% during the first quarter. CVA Family Office LLC now owns 282 shares of the insurance provider’s stock valued at $31,000 after buying an additional 92 shares during the period. Finally, Bison Wealth LLC increased its stake in shares of Allstate by 3.2% during the first quarter. Bison Wealth LLC now owns 2,943 shares of the insurance provider’s stock valued at $348,000 after buying an additional 92 shares during the period. 77.23% of the stock is currently owned by institutional investors.

Allstate Stock Down 1.6 %

Allstate stock opened at $108.78 on Friday. The stock has a market cap of $28.45 billion, a PE ratio of -10.51 and a beta of 0.57. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.37 and a current ratio of 0.37. The Allstate Co. has a one year low of $100.57 and a one year high of $142.15. The stock has a fifty day moving average of $108.30 and a 200 day moving average of $111.92.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported ($4.42) EPS for the quarter, missing analysts’ consensus estimates of ($3.83) by ($0.59). Allstate had a negative return on equity of 14.69% and a negative net margin of 4.80%. The company had revenue of $13.98 billion during the quarter, compared to analysts’ expectations of $12.30 billion. During the same quarter in the previous year, the company earned ($0.76) EPS. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts predict that The Allstate Co. will post -1.99 EPS for the current year.

Allstate Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, August 31st will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, August 30th. Allstate’s dividend payout ratio is currently -34.40%.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 1,565 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $111.22, for a total transaction of $174,059.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ALL. Morgan Stanley reissued an “equal weight” rating and set a $117.00 target price on shares of Allstate in a research note on Tuesday, August 1st. JPMorgan Chase & Co. dropped their price target on Allstate from $162.00 to $154.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 2nd. Piper Sandler dropped their price target on Allstate from $137.00 to $124.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. Barclays dropped their price target on Allstate from $113.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Monday, August 14th. Finally, Bank of America dropped their price target on Allstate from $143.00 to $138.00 in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $135.31.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.