B. Metzler seel. Sohn & Co. AG Sells 3,856 Shares of The Allstate Corporation $ALL

B. Metzler seel. Sohn & Co. AG trimmed its position in The Allstate Corporation (NYSE:ALL - Free Report) by 8.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,707 shares of the insurance provider's stock after selling 3,856 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Allstate were worth $9,924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ALL. BlackRock Inc. acquired a new position in Allstate during the 2nd quarter worth $5,439,448,000. Bank of America Corp DE acquired a new stake in shares of Allstate in the second quarter valued at about $1,410,362,000. GQG Partners LLC acquired a new stake in shares of Allstate in the second quarter valued at about $1,245,710,000. Deutsche Bank AG bought a new position in shares of Allstate in the second quarter worth about $1,008,648,000. Finally, Norges Bank bought a new position in shares of Allstate in the fourth quarter worth about $531,294,000. 76.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALL. Weiss Ratings downgraded shares of Allstate from a "buy (a)" rating to a "buy (a-)" rating in a research note on Tuesday, August 25th. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $250.00 target price (down from $255.00) on shares of Allstate in a research note on Thursday, August 20th. Mizuho increased their price target on shares of Allstate from $255.00 to $272.00 and gave the company an "outperform" rating in a report on Thursday, July 9th. JPMorgan Chase & Co. raised their price target on shares of Allstate from $282.00 to $292.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley set a $265.00 price objective on shares of Allstate in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $263.90.

Insider Buying and Selling

In other news, insider John E. Dugenske sold 32,996 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the sale, the insider directly owned 13,054 shares in the company, valued at approximately $3,515,833.82. This represents a 71.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Mario Rizzo sold 56,225 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value 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 approximately $21,747,396.96. The trade was 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 currently owned by insiders.

Allstate Stock Up 0.6%

ALL opened at $259.51 on Thursday. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The firm's fifty day moving average price is $255.88 and its two-hundred day moving average price is $228.15. The company has a market capitalization of $65.62 billion, a P/E ratio of 5.18, a P/E/G ratio of 0.59 and a beta of 0.15.

Allstate (NYSE:ALL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (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 company had revenue of $18.60 billion during the quarter, compared to analysts' expectations of $15.46 billion. During the same quarter in the prior year, the company posted $5.94 EPS. The business's revenue was up 11.8% on a year-over-year basis. On average, analysts anticipate that The Allstate Corporation will post 34.78 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate's payout ratio is presently 8.63%.

Allstate 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.

Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Allstate Corporation (NYSE:ALL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source