The Allstate Corporation $ALL Shares Sold by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH cut its Allstate stake by 29.2% in the fourth quarter, selling 15,458 shares and leaving it with 37,472 shares valued at about $7.8 million.
• Allstate reported strong quarterly results, with EPS of $10.65 beating estimates by $3.34 and revenue of $16.94 billion topping expectations. Analysts now expect the company to earn 29.43 EPS for the full year.
• The company declared a quarterly dividend of $1.08 per share, payable July 1, for an annualized dividend of $4.32 and a yield of about 2.0%.

Erste Asset Management GmbH lowered its position in The Allstate Corporation (NYSE:ALL - Free Report) by 29.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,472 shares of the insurance provider's stock after selling 15,458 shares during the period. Erste Asset Management GmbH's holdings in Allstate were worth $7,818,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp grew its holdings in shares of Allstate by 0.7% in the 3rd quarter. State Street Corp now owns 11,859,517 shares of the insurance provider's stock worth $2,557,362,000 after acquiring an additional 85,468 shares during the period. Boston Partners grew its holdings in shares of Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider's stock worth $654,652,000 after acquiring an additional 395,195 shares during the period. Raymond James Financial Inc. grew its holdings in shares of Allstate by 3.3% in the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider's stock worth $562,388,000 after acquiring an additional 88,620 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Allstate by 18.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,606,451 shares of the insurance provider's stock worth $559,435,000 after acquiring an additional 401,700 shares during the period. Finally, Norges Bank acquired a new stake in shares of Allstate in the 4th quarter worth approximately $531,294,000. Institutional investors and hedge funds own 76.47% of the company's stock.

Allstate Trading Down 2.7%

Shares of Allstate stock opened at $214.97 on Tuesday. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $227.62. The firm has a market cap of $55.34 billion, a PE ratio of 4.74, a P/E/G ratio of 0.40 and a beta of 0.19. The business's fifty day moving average is $213.47 and its two-hundred day moving average is $208.68. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.25.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping analysts' consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the company posted $3.53 EPS. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts anticipate that The Allstate Corporation will post 29.43 earnings per share for the current year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. Allstate's dividend payout ratio is currently 9.53%.

Analysts Set New Price Targets

ALL has been the topic of a number of research reports. Weiss Ratings upgraded Allstate from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, March 23rd. Citigroup upped their price target on Allstate from $221.00 to $226.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Wall Street Zen cut Allstate from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Wells Fargo & Company increased their target price on Allstate from $229.00 to $243.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Finally, Barclays increased their target price on Allstate from $207.00 to $208.00 and gave the company an "underweight" rating in a report on Wednesday, April 8th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $240.33.

Insiders Place Their Bets

In other Allstate news, COO Mario Rizzo sold 18,578 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the transaction, the chief operating officer owned 82,227 shares of the company's stock, valued at $17,991,267.60. This represents a 18.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the transaction, the insider directly owned 27,558 shares in the company, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,353 shares of company stock valued at $4,851,560 in the last quarter. 1.55% of the stock is currently owned by company insiders.

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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