Assenagon Asset Management S.A. Increases Stake in The Allstate Corporation $ALL

Assenagon Asset Management S.A. raised its holdings in shares of The Allstate Corporation (NYSE:ALL) by 191.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,916 shares of the insurance provider’s stock after acquiring an additional 108,996 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.06% of Allstate worth $35,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Arlington Trust Co LLC raised its holdings in Allstate by 261.8% in the 2nd quarter. Arlington Trust Co LLC now owns 123 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 89 shares during the period. Clearstead Trust LLC increased its position in Allstate by 3,800.0% in the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider’s stock worth $31,000 after buying an additional 152 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Allstate by 315.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the insurance provider’s stock worth $33,000 after buying an additional 126 shares during the period. Hilltop National Bank purchased a new position in shares of Allstate during the 2nd quarter valued at about $34,000. Finally, Chilton Capital Management LLC bought a new position in shares of Allstate during the 2nd quarter valued at approximately $38,000. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Allstate from $202.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Allstate from $254.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Wall Street Zen downgraded shares of Allstate from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. William Blair cut Allstate from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods upped their price objective on Allstate from $246.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $236.93.

Allstate Stock Down 2.0%

Shares of ALL opened at $204.84 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $203.52 and a 200 day moving average of $202.50. The company has a market cap of $53.60 billion, a PE ratio of 6.63, a P/E/G ratio of 0.39 and a beta of 0.25. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $215.89.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, November 5th. The insurance provider reported $11.17 earnings per share for the quarter, beating the consensus estimate of $5.48 by $5.69. The business had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.91 earnings per share. On average, sell-side analysts expect that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, December 1st. Allstate’s payout ratio is 12.95%.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 21,871 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $215.21, for a total value of $4,706,857.91. Following the sale, the insider directly owned 100,646 shares in the company, valued at approximately $21,660,025.66. This represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 28,807 shares of company stock worth $6,198,726 over the last quarter. Corporate insiders own 1.70% of the company’s stock.

Allstate 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.