Assenagon Asset Management S.A. Has $1.76 Million Stake in The Allstate Corporation $ALL

Assenagon Asset Management S.A. lowered its holdings in The Allstate Corporation (NYSE:ALL) by 94.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,456 shares of the insurance provider’s stock after selling 157,460 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Allstate were worth $1,760,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Swedbank AB lifted its stake in shares of Allstate by 2,157.8% in the third quarter. Swedbank AB now owns 861,725 shares of the insurance provider’s stock valued at $184,969,000 after buying an additional 823,559 shares in the last quarter. Woodline Partners LP bought a new stake in shares of Allstate during the third quarter worth about $148,641,000. Ameriprise Financial Inc. increased its position in shares of Allstate by 52.7% during the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock worth $279,062,000 after acquiring an additional 478,598 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Allstate in the 3rd quarter worth about $100,596,000. Finally, Dimensional Fund Advisors LP lifted its position in Allstate by 18.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider’s stock valued at $559,435,000 after acquiring an additional 401,700 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Insider Buying and Selling

In related news, insider Suren Gupta sold 19,593 shares of Allstate stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the sale, the insider directly owned 100,646 shares in the company, valued at approximately $21,135,660. This trade represents a 16.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Mizuho cut their price target on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Cantor Fitzgerald reissued a “neutral” rating and issued a $220.00 price objective on shares of Allstate in a research note on Thursday, February 5th. Wells Fargo & Company dropped their target price on Allstate from $228.00 to $227.00 and set an “equal weight” rating on the stock in a report on Friday, February 20th. JPMorgan Chase & Co. lifted their target price on Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings upgraded Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Four analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price of $237.94.

Allstate Trading Up 2.2%

Shares of ALL stock opened at $207.12 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $53.76 billion, a price-to-earnings ratio of 5.42, a PEG ratio of 0.41 and a beta of 0.23. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $216.75. The company has a 50-day simple moving average of $205.33 and a two-hundred day simple moving average of $204.95.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, beating the consensus estimate of $8.72 by $5.59. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The firm had revenue of $17.35 billion during the quarter, compared to analyst estimates of $17.23 billion. During the same quarter last year, the business posted $7.67 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $1.00. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.1%. Allstate’s dividend payout ratio (DPR) is 11.31%.

Allstate Company 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.