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

Assenagon Asset Management S.A. raised its position in shares of The Allstate Corporation (NYSE:ALL) by 1,828.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 163,074 shares of the insurance provider’s stock after purchasing an additional 154,618 shares during the period. Assenagon Asset Management S.A.’s holdings in Allstate were worth $33,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of ALL. South Plains Financial Inc. lifted its position in shares of Allstate by 41.5% during the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after buying an additional 49 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock worth $1,625,000 after acquiring an additional 50 shares during the last quarter. Compound Planning Inc. increased its holdings in Allstate by 1.6% in the 4th quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider’s stock worth $669,000 after acquiring an additional 50 shares during the last quarter. Humankind Investments LLC raised its stake in Allstate by 4.5% in the 3rd quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock valued at $256,000 after acquiring an additional 51 shares during the period. Finally, Cullen Frost Bankers Inc. raised its stake in Allstate by 0.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after acquiring an additional 52 shares during the period. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Trading Up 3.5%

Shares of ALL stock opened at $239.77 on Friday. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $240.16. The firm’s 50 day moving average is $217.68 and its 200 day moving average is $210.10. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $61.72 billion, a P/E ratio of 5.29, a P/E/G ratio of 0.41 and a beta of 0.18.

Allstate (NYSE:ALL) last released its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 EPS for the quarter, beating the consensus estimate of $7.31 by $3.34. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The firm had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the firm earned $3.53 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts expect that The Allstate Corporation will post 29.75 earnings per share for the current year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $1.08 dividend. The ex-dividend date is Monday, June 1st. This represents a $4.32 dividend on an annualized basis and a yield of 1.8%. Allstate’s dividend payout ratio is presently 9.53%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wall Street Zen lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Barclays boosted their price target on shares of Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a research report on Wednesday, April 8th. Zacks Research cut shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Mizuho cut their price objective on shares of Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Allstate from $229.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and an average price target of $240.33.

Insider Transactions at Allstate

In related news, Director Andrea Redmond sold 2,225 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares of the company’s stock, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. The trade was a 5.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,353 shares of company stock valued at $4,851,560 over the last quarter. 1.55% of the stock is currently owned by company insiders.

Allstate Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.