Munich Reinsurance Co Stock Corp in Munich Buys 14,785 Shares of The Allstate Corporation $ALL

Key Points

• Munich Re boosted its stake in Allstate by 69.5%, buying an additional 14,785 shares to hold 36,064 shares valued at about $7.54 million at the end of the quarter.
• Allstate beat Q4 estimates with EPS of $14.31 (vs. $8.72 consensus) and $17.35 billion in revenue, and raised its quarterly dividend to $1.08 (annualized $4.32, 2.0% yield). Analysts view the stock as a "Moderate Buy" with an average target price of $238.65, and the shares trade at a P/E of 5.58.

Munich Reinsurance Co Stock Corp in Munich boosted its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 69.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,064 shares of the insurance provider's stock after purchasing an additional 14,785 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich's holdings in Allstate were worth $7,541,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Allstate by 1,766.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider's stock worth $180,911,000 after buying an additional 822,583 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Allstate during the third quarter worth approximately $148,641,000. Ameriprise Financial Inc. lifted its holdings in shares of Allstate by 52.7% during the second quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider's stock worth $279,062,000 after buying an additional 478,598 shares during the last quarter. Danske Bank A S acquired a new position in shares of Allstate during the third quarter worth approximately $100,596,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Allstate by 18.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider's stock worth $559,435,000 after buying an additional 401,700 shares during the last quarter. Institutional investors own 76.47% of the company's stock.

Allstate Price Performance

Shares of ALL stock opened at $213.15 on Friday. The stock's fifty day moving average is $209.79 and its 200-day moving average is $205.72. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market capitalization of $55.04 billion, a PE ratio of 5.58, a PEG ratio of 0.44 and a beta of 0.22. The Allstate Corporation has a 52 week low of $188.08 and a 52 week high of $219.48.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, February 4th. The insurance provider reported $14.31 EPS for the quarter, topping the consensus estimate of $8.72 by $5.59. The company had revenue of $17.35 billion for the quarter, compared to analysts' expectations of $17.23 billion. Allstate had a return on equity of 39.20% and a net margin of 15.19%.The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.67 earnings per share. Equities research analysts expect that The Allstate Corporation will post 25.95 EPS for the current fiscal year.

Allstate Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were issued a dividend of $1.08 per share. The ex-dividend date was Monday, March 2nd. This is a boost from Allstate's previous quarterly dividend of $1.00. This represents a $4.32 annualized dividend and a dividend yield of 2.0%. Allstate's dividend payout ratio (DPR) is currently 11.31%.

Analysts Set New Price Targets

A number of research analysts have recently commented on ALL shares. TD Cowen lowered Allstate from a "buy" rating to a "hold" rating in a report on Monday, January 12th. Keefe, Bruyette & Woods upped their price target on Allstate from $254.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, February 10th. Zacks Research lowered Allstate from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Raymond James Financial restated a "strong-buy" rating and issued a $260.00 target price on shares of Allstate in a research note on Tuesday, March 3rd. Finally, Barclays upped their target price on Allstate from $207.00 to $208.00 and gave the company an "underweight" rating in a research note on Wednesday, April 8th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $238.65.

About Allstate

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.

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