Assenagon Asset Management S.A. Boosts Position in The Allstate Corporation $ALL

Assenagon Asset Management S.A. raised its stake in The Allstate Corporation (NYSE:ALL) by 191.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,916 shares of the insurance provider’s stock after buying an additional 108,996 shares during the period. Assenagon Asset Management S.A.’s holdings in Allstate were worth $35,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Allstate by 60.2% in the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider’s stock worth $1,253,000 after purchasing an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Allstate in the 4th quarter worth $231,000. Cresset Asset Management LLC grew its position in shares of Allstate by 13.6% during the 1st quarter. Cresset Asset Management LLC now owns 7,266 shares of the insurance provider’s stock worth $1,512,000 after buying an additional 872 shares in the last quarter. RWA Wealth Partners LLC purchased a new position in shares of Allstate during the first quarter valued at $210,000. Finally, Venture Visionary Partners LLC raised its holdings in shares of Allstate by 58.1% in the first quarter. Venture Visionary Partners LLC now owns 2,509 shares of the insurance provider’s stock valued at $520,000 after acquiring an additional 922 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 3,786 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $215.13, for a total transaction of $814,482.18. Following the sale, the insider directly owned 100,646 shares of the company’s stock, valued at $21,651,973.98. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 28,807 shares of company stock worth $6,198,726 in the last three months. Insiders own 1.70% of the company’s stock.

Allstate Trading Down 2.0%

Allstate stock opened at $204.84 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market cap of $53.60 billion, a PE ratio of 6.63, a price-to-earnings-growth ratio of 0.39 and a beta of 0.25. The stock has a 50-day moving average of $203.52 and a two-hundred day moving average of $202.50. The Allstate Corporation has a one year low of $176.00 and a one year high of $215.89.

Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, topping analysts’ consensus estimates of $5.48 by $5.69. The business had revenue of $17.26 billion for the quarter, compared to analyst estimates of $16.59 billion. Allstate had a return on equity of 35.42% and a net margin of 12.53%.The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.91 earnings per share. On average, research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $1.00 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. Allstate’s dividend payout ratio (DPR) is currently 12.95%.

Analysts Set New Price Targets

Several research analysts have issued reports on ALL shares. JPMorgan Chase & Co. increased their target price on shares of Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Roth Capital increased their price objective on shares of Allstate from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Evercore ISI set a $233.00 price objective on shares of Allstate and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Keefe, Bruyette & Woods upped their target price on Allstate from $246.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Allstate in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $236.93.

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.