The Allstate Corporation $ALL Shares Sold by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG cut its stake by 12.7%, selling 6,419 Allstate shares and leaving 43,989 shares valued at $9.156 million at the end of the quarter.
• Allstate reported a strong quarter with EPS of $14.31 vs. consensus $8.72 and revenue of $17.35 billion (+5.1% y/y), and analysts forecast about $25.95 EPS for the current fiscal year.
• Allstate raised its quarterly dividend to $1.08 (annualized $4.32, 2.0% yield) with a low payout ratio of 11.31%, signaling continued shareholder returns.

B. Metzler seel. Sohn & Co. AG cut its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,989 shares of the insurance provider's stock after selling 6,419 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Allstate were worth $9,156,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Truist Financial Corp lifted its stake in Allstate by 4.7% in the third quarter. Truist Financial Corp now owns 123,461 shares of the insurance provider's stock valued at $26,501,000 after buying an additional 5,542 shares during the last quarter. Davis Capital Management purchased a new stake in Allstate in the third quarter valued at approximately $2,767,000. First Horizon Corp purchased a new stake in Allstate in the third quarter valued at approximately $11,109,000. Coastal Bridge Advisors LLC lifted its stake in Allstate by 530.6% in the third quarter. Coastal Bridge Advisors LLC now owns 18,174 shares of the insurance provider's stock valued at $3,901,000 after buying an additional 15,292 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Allstate by 6.9% in the third quarter. Jones Financial Companies Lllp now owns 189,718 shares of the insurance provider's stock valued at $40,489,000 after buying an additional 12,225 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Trading Up 1.2%

NYSE:ALL opened at $216.71 on Friday. The stock has a fifty day moving average price of $209.67 and a two-hundred day moving average price of $205.69. The stock has a market capitalization of $55.96 billion, a price-to-earnings ratio of 5.67, a PEG ratio of 0.43 and a beta of 0.22. 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 Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $219.48.

Allstate (NYSE:ALL - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The insurance provider reported $14.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 39.20% and a net margin of 15.19%.Allstate's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.67 earnings per share. As a group, sell-side analysts anticipate that The Allstate Corporation will post 25.95 earnings per share for the current fiscal year.

Allstate Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.0%. This is a positive change from Allstate's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Monday, March 2nd. Allstate's dividend payout ratio is currently 11.31%.

Analysts Set New Price Targets

ALL has been the subject of several analyst reports. The Goldman Sachs Group restated a "neutral" rating and set a $231.00 price target on shares of Allstate in a research note on Thursday, March 5th. Evercore set a $225.00 price target on Allstate in a research note on Wednesday, January 7th. Citigroup upped their price target on Allstate from $216.00 to $221.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 10th. Keefe, Bruyette & Woods upped their price target on Allstate from $254.00 to $260.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 10th. Finally, JPMorgan Chase & Co. upped their price target on Allstate from $260.00 to $263.00 and gave the stock an "overweight" rating in a research note on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $238.65.

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.

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