121,143 The Allstate Corporation $ALL Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management more than doubled its Allstate position in the third quarter, acquiring 121,143 additional shares and bringing its total stake to 238,609 shares valued at approximately $52.6 million.
• Institutional investors and hedge funds own 76.47% of Allstate’s shares, with major holders including BlackRock, Bank of America, GQG Partners, Deutsche Bank, and Dimensional Fund Advisors.
• Allstate reported strong quarterly results, with EPS of $8.99 and revenue of $18.6 billion, both exceeding analyst expectations. Analysts maintain an overall “Hold” rating, with an average price target of $270.19 versus the stock’s reported $247.27 price.

Assenagon Asset Management S.A. raised its position in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 103.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 238,609 shares of the insurance provider's stock after acquiring an additional 121,143 shares during the period. Assenagon Asset Management S.A. owned approximately 0.09% of Allstate worth $52,558,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. BlackRock Inc. purchased a new stake in Allstate during the 2nd quarter worth $5,439,448,000. Bank of America Corp DE increased its holdings in Allstate by 8.1% in the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider's stock valued at $1,640,748,000 after purchasing an additional 596,321 shares in the last quarter. GQG Partners LLC purchased a new position in Allstate in the second quarter valued at about $1,245,710,000. Deutsche Bank AG purchased a new position in Allstate in the second quarter valued at about $1,008,648,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Allstate by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,804,615 shares of the insurance provider's stock worth $581,515,000 after purchasing an additional 154,259 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Allstate Price Performance

ALL stock opened at $247.27 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The Allstate Corporation has a 52-week low of $188.08 and a 52-week high of $277.22. The stock's 50 day moving average is $246.77 and its two-hundred day moving average is $235.04. The company has a market capitalization of $62.52 billion, a PE ratio of 4.94, a P/E/G ratio of 0.55 and a beta of 0.13.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 EPS for the quarter, beating analysts' consensus estimates of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same period in the prior year, the firm posted $5.94 EPS. The firm's revenue was up 11.8% compared to the same quarter last year. Analysts predict that The Allstate Corporation will post 36.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Allstate

In other Allstate news, insider John Dugenske sold 32,996 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the sale, the insider owned 13,054 shares in the company, valued at $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares of the company's stock, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ALL shares. Argus set a $238.00 target price on Allstate in a research report on Friday, August 28th. Morgan Stanley dropped their target price on Allstate from $265.00 to $240.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 6th. JPMorgan Chase & Co. boosted their price target on Allstate from $282.00 to $292.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Barclays decreased their price target on Allstate from $226.00 to $221.00 and set an "underweight" rating for the company in a report on Wednesday, October 7th. Finally, HSBC raised shares of Allstate from a "hold" rating to a "buy" rating and set a $266.00 price target for the company in a report on Wednesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $270.19.

Allstate Company Profile

Allstate Corporation is an insurance company that provides protection products and services primarily to individuals and families. Its offerings include automobile, homeowners, renters, condominium, and other property and casualty insurance, along with roadside assistance, identity protection, and related protection services.

The company distributes products through a network of exclusive agents, independent agents, contact centers, and digital channels. Allstate also serves customers through brands and businesses including National General, which expands its presence in personal and commercial auto insurance and other specialty coverage markets.

Founded in 1931 as part of Sears, Roebuck & Co, Allstate became an independent publicly traded company in 1995.

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