Assenagon Asset Management S.A. Sells 163,148 Shares of The Allstate Corporation $ALL

Key Points

• Assenagon Asset Management S.A. has reduced its stake in The Allstate Corporation by 74.1%, selling 163,148 shares and now holding 56,920 shares worth approximately $11.46 million.
• Wall Street analysts show strong confidence in Allstate, with ratings such as "strong-buy" and a price target range from $198.00 to $260.00, resulting in an average rating of "Moderate Buy."
• Allstate recently announced a quarterly dividend of $1.00 per share, translating to an annual dividend yield of 1.9%, with a dividend payout ratio of 18.81%.

Assenagon Asset Management S.A. reduced its stake in The Allstate Corporation (NYSE:ALL - Free Report) by 74.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,920 shares of the insurance provider's stock after selling 163,148 shares during the period. Assenagon Asset Management S.A.'s holdings in Allstate were worth $11,459,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Rehmann Capital Advisory Group raised its stake in Allstate by 3.2% in the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock worth $338,000 after buying an additional 51 shares in the last quarter. Vantage Point Financial LLC grew its holdings in Allstate by 3.6% in the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock worth $310,000 after purchasing an additional 52 shares during the period. Confluence Wealth Services Inc. grew its holdings in Allstate by 0.7% in the first quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock worth $1,558,000 after purchasing an additional 54 shares during the period. Linscomb Wealth Inc. grew its holdings in Allstate by 1.3% in the first quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider's stock worth $845,000 after purchasing an additional 54 shares during the period. Finally, Ancora Advisors LLC grew its holdings in Allstate by 0.7% in the first quarter. Ancora Advisors LLC now owns 8,402 shares of the insurance provider's stock worth $1,740,000 after purchasing an additional 55 shares during the period. 76.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALL shares. Wolfe Research upgraded shares of Allstate to a "strong-buy" rating in a report on Tuesday, September 16th. UBS Group upped their price objective on shares of Allstate from $230.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Raymond James Financial restated a "strong-buy" rating and issued a $260.00 price objective (up previously from $250.00) on shares of Allstate in a report on Monday, August 4th. Barclays restated an "underweight" rating and issued a $198.00 price objective (up previously from $188.00) on shares of Allstate in a report on Thursday, July 31st. Finally, Morgan Stanley increased their price target on shares of Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $231.47.

Allstate Stock Up 0.2%

Shares of ALL stock opened at $206.49 on Tuesday. The company has a market capitalization of $54.41 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 0.82 and a beta of 0.37. The Allstate Corporation has a one year low of $176.00 and a one year high of $214.76. The company's fifty day moving average price is $201.84 and its 200-day moving average price is $200.56. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The insurance provider reported $5.94 EPS for the quarter, beating the consensus estimate of $3.20 by $2.74. The firm had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a net margin of 8.79% and a return on equity of 28.74%. The company's revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $1.61 EPS. Sell-side analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, August 29th. Allstate's dividend payout ratio (DPR) is presently 18.81%.

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.

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