Allstate Corp Purchases Shares of 3,395 Quest Diagnostics Incorporated (NYSE:DGX)

Allstate Corp purchased a new stake in Quest Diagnostics Incorporated (NYSE:DGX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,395 shares of the medical research company’s stock, valued at approximately $512,000.

A number of other hedge funds have also modified their holdings of DGX. Townsquare Capital LLC grew its stake in shares of Quest Diagnostics by 5.8% during the 3rd quarter. Townsquare Capital LLC now owns 1,659 shares of the medical research company’s stock worth $258,000 after acquiring an additional 91 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Quest Diagnostics by 13.9% during the third quarter. Public Sector Pension Investment Board now owns 4,915 shares of the medical research company’s stock worth $763,000 after purchasing an additional 600 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Quest Diagnostics by 59.8% in the third quarter. Rockefeller Capital Management L.P. now owns 29,135 shares of the medical research company’s stock valued at $4,523,000 after purchasing an additional 10,903 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in Quest Diagnostics during the 3rd quarter worth about $678,000. Finally, Cinctive Capital Management LP acquired a new position in shares of Quest Diagnostics during the 3rd quarter worth about $4,282,000. 88.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Quest Diagnostics

In other news, EVP Catherine T. Doherty sold 5,370 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $174.13, for a total transaction of $935,078.10. Following the completion of the sale, the executive vice president now directly owns 68,068 shares in the company, valued at approximately $11,852,680.84. This represents a 7.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael E. Prevoznik sold 4,643 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $170.00, for a total value of $789,310.00. Following the completion of the transaction, the senior vice president now owns 38,117 shares in the company, valued at $6,479,890. The trade was a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,157 shares of company stock valued at $2,423,755 in the last quarter. Company insiders own 0.79% of the company’s stock.

Quest Diagnostics Trading Up 0.1 %

Shares of NYSE:DGX opened at $169.45 on Wednesday. The stock has a market cap of $18.80 billion, a PE ratio of 22.03, a P/E/G ratio of 2.16 and a beta of 0.92. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. Quest Diagnostics Incorporated has a 12-month low of $125.42 and a 12-month high of $178.87. The business has a 50 day moving average of $167.34 and a 200-day moving average of $159.30.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. As a group, equities research analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a $0.80 dividend. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 7th. This represents a $3.20 annualized dividend and a yield of 1.89%. Quest Diagnostics’s payout ratio is 41.61%.

Analysts Set New Price Targets

DGX has been the topic of several analyst reports. StockNews.com lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Piper Sandler reiterated a “neutral” rating and set a $180.00 price objective (up previously from $165.00) on shares of Quest Diagnostics in a research note on Monday, February 3rd. Barclays raised their target price on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Robert W. Baird upped their price target on shares of Quest Diagnostics from $190.00 to $191.00 and gave the stock an “outperform” rating in a research report on Thursday, March 20th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $185.00 price objective (up previously from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $178.38.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.