53,253 Shares in The Allstate Co. (NYSE:ALL) Bought by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new stake in The Allstate Co. (NYSE:ALL) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 53,253 shares of the insurance provider’s stock, valued at approximately $10,031,000.

A number of other hedge funds also recently made changes to their positions in ALL. Allspring Global Investments Holdings LLC raised its position in Allstate by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock worth $569,114,000 after purchasing an additional 472,040 shares in the last quarter. Raymond James & Associates grew its stake in shares of Allstate by 10.6% in the 3rd quarter. Raymond James & Associates now owns 1,517,800 shares of the insurance provider’s stock valued at $287,851,000 after purchasing an additional 145,986 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Allstate by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,437,688 shares of the insurance provider’s stock worth $229,545,000 after buying an additional 47,038 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Allstate by 18,472.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock worth $199,642,000 after buying an additional 1,047,019 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Allstate by 3.3% in the 2nd quarter. Hsbc Holdings PLC now owns 1,007,953 shares of the insurance provider’s stock valued at $160,948,000 after buying an additional 31,789 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

Shares of ALL stock opened at $207.39 on Monday. The firm’s 50 day moving average price is $193.02 and its two-hundred day moving average price is $179.19. The stock has a market cap of $54.92 billion, a PE ratio of 13.43, a PEG ratio of 1.82 and a beta of 0.48. The Allstate Co. has a 52-week low of $134.17 and a 52-week high of $209.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.40 and a current ratio of 0.40.

Allstate (NYSE:ALL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. The business had revenue of $16.63 billion for the quarter, compared to analyst estimates of $14.57 billion. Allstate had a return on equity of 26.67% and a net margin of 6.77%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same period last year, the company earned $0.81 EPS. As a group, analysts forecast that The Allstate Co. will post 16.26 EPS for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.77%. Allstate’s payout ratio is currently 23.83%.

Insider Activity

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the completion of the sale, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BMO Capital Markets lifted their price objective on Allstate from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, October 18th. StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. Bank of America lifted their target price on shares of Allstate from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company raised their price target on Allstate from $175.00 to $186.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Allstate from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.19.

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.