Erste Asset Management GmbH Has $13.14 Million Stock Position in The Allstate Corporation $ALL

Key Points

• Erste Asset Management GmbH increased its stake in The Allstate Corporation by 9.1%, owning 63,647 shares valued at approximately $13.14 million as of the latest reporting period.
• The Allstate Corporation recently posted earnings of $5.94 per share, significantly beating analysts' expectations and reporting revenue of $15.05 billion for the quarter.
• The company has declared a $1.00 quarterly dividend, with an annualized yield of 1.9%, scheduled to be paid out to investors of record on August 29th.

Erste Asset Management GmbH boosted its holdings in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 9.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,647 shares of the insurance provider's stock after buying an additional 5,308 shares during the period. Erste Asset Management GmbH's holdings in Allstate were worth $13,142,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Rehmann Capital Advisory Group raised its position in Allstate by 3.2% during the first quarter. Rehmann Capital Advisory Group now owns 1,630 shares of the insurance provider's stock valued at $338,000 after buying an additional 51 shares during the period. Vantage Point Financial LLC raised its position in Allstate by 3.6% during the first quarter. Vantage Point Financial LLC now owns 1,495 shares of the insurance provider's stock valued at $310,000 after buying an additional 52 shares during the period. Confluence Wealth Services Inc. raised its position in Allstate by 0.7% during the first quarter. Confluence Wealth Services Inc. now owns 8,000 shares of the insurance provider's stock valued at $1,558,000 after buying an additional 54 shares during the period. Linscomb Wealth Inc. raised its position in Allstate by 1.3% during the first quarter. Linscomb Wealth Inc. now owns 4,079 shares of the insurance provider's stock valued at $845,000 after buying an additional 54 shares during the period. Finally, Achmea Investment Management B.V. raised its position in Allstate by 0.3% during the first quarter. Achmea Investment Management B.V. now owns 20,586 shares of the insurance provider's stock valued at $4,262,000 after buying an additional 57 shares during the period. 76.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on ALL shares. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research note on Tuesday, August 5th. BMO Capital Markets boosted their target price on Allstate from $230.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday. Keefe, Bruyette & Woods boosted their target price on Allstate from $237.00 to $246.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. William Blair started coverage on Allstate in a research note on Friday, June 6th. They issued a "sector outperform" rating on the stock. Finally, Morgan Stanley boosted their target price on Allstate from $235.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Allstate presently has a consensus rating of "Moderate Buy" and a consensus price target of $230.73.

Allstate Stock Performance

NYSE:ALL traded down $1.3910 during mid-day trading on Friday, hitting $205.1590. 1,278,371 shares of the company's stock traded hands, compared to its average volume of 1,547,023. The firm has a 50 day moving average of $199.16 and a two-hundred day moving average of $199.05. The Allstate Corporation has a 12 month low of $176.00 and a 12 month high of $214.76. The firm has a market capitalization of $54.06 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.84 and a beta of 0.35. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.37.

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

Allstate Announces Dividend

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

Allstate Company 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.