Munich Reinsurance Co Stock Corp in Munich Takes $4.57 Million Position in The Allstate Corporation $ALL

Key Points

• Munich Re opened a new position in Allstate in Q3, buying 21,279 shares worth about $4.57 million.
• Allstate sharply beat quarterly expectations, reporting $14.31 EPS versus $8.72 expected and $17.35 billion in revenue, with a 15.19% net margin and 39.2% return on equity.
• The company raised its quarterly dividend to $1.08 per share (annualized $4.32, ~2.0% yield), with an ex-dividend/record schedule in early March.

Munich Reinsurance Co Stock Corp in Munich acquired a new position in shares of The Allstate Corporation (NYSE:ALL - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,279 shares of the insurance provider's stock, valued at approximately $4,568,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALL. Harbor Capital Advisors Inc. increased its position in shares of Allstate by 79.7% during the third quarter. Harbor Capital Advisors Inc. now owns 124 shares of the insurance provider's stock worth $27,000 after buying an additional 55 shares during the period. Barnes Dennig Private Wealth Management LLC lifted its holdings in Allstate by 112.3% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 138 shares of the insurance provider's stock valued at $30,000 after buying an additional 73 shares during the period. Clearstead Trust LLC lifted its holdings in Allstate by 3,800.0% in the second quarter. Clearstead Trust LLC now owns 156 shares of the insurance provider's stock valued at $31,000 after buying an additional 152 shares during the period. Armstrong Advisory Group Inc. boosted its position in Allstate by 72.0% during the third quarter. Armstrong Advisory Group Inc. now owns 160 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 67 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in Allstate during the 3rd quarter worth about $37,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ALL shares. Weiss Ratings reissued a "buy (b)" rating on shares of Allstate in a research report on Wednesday, January 21st. Citigroup upped their target price on Allstate from $216.00 to $221.00 and gave the company a "neutral" rating in a research report on Tuesday, February 10th. Keefe, Bruyette & Woods raised their target price on Allstate from $254.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 10th. Mizuho lifted their target price on Allstate from $255.00 to $281.00 and gave the stock an "outperform" rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. increased their price target on Allstate from $260.00 to $263.00 and gave the stock an "overweight" rating in a report on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $238.88.

Allstate Stock Performance

ALL opened at $212.56 on Friday. The Allstate Corporation has a 1-year low of $176.00 and a 1-year high of $216.75. The company has a market cap of $55.17 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 0.44 and a beta of 0.23. The company's fifty day moving average price is $204.65 and its two-hundred day moving average price is $204.70. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.26.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.72 by $5.59. The firm had revenue of $17.35 billion during the quarter, compared to analysts' expectations of $17.23 billion. Allstate had a net margin of 15.19% and a return on equity of 39.20%. The business's revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $7.67 earnings per share. On average, analysts expect that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a dividend of $1.08 per share. This is an increase from Allstate's previous quarterly dividend of $1.00. The ex-dividend date is Monday, March 2nd. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. Allstate's dividend payout ratio (DPR) is presently 11.31%.

Insider Transactions at Allstate

In other Allstate news, insider Suren Gupta sold 19,593 shares of the business's stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,114,530.00. Following the completion of the sale, the insider directly owned 100,646 shares of the company's stock, valued at approximately $21,135,660. The trade was a 16.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company's stock.

Allstate Company 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.

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