Assenagon Asset Management S.A. Sells 361,383 Shares of The Allstate Co. (NYSE:ALL)

Assenagon Asset Management S.A. reduced its holdings in shares of The Allstate Co. (NYSE:ALLFree Report) by 86.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,785 shares of the insurance provider’s stock after selling 361,383 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Allstate were worth $6,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ALL. Sei Investments Co. increased its position in Allstate by 40.2% during the first quarter. Sei Investments Co. now owns 187,869 shares of the insurance provider’s stock valued at $26,022,000 after acquiring an additional 53,824 shares during the last quarter. Prudential PLC purchased a new stake in Allstate during the first quarter valued at $1,325,000. Cetera Investment Advisers increased its position in Allstate by 13.9% during the first quarter. Cetera Investment Advisers now owns 23,536 shares of the insurance provider’s stock valued at $3,260,000 after acquiring an additional 2,874 shares during the last quarter. Dakota Wealth Management purchased a new stake in Allstate during the first quarter valued at $270,000. Finally, Sequoia Financial Advisors LLC increased its position in Allstate by 36.2% during the first quarter. Sequoia Financial Advisors LLC now owns 3,237 shares of the insurance provider’s stock valued at $448,000 after acquiring an additional 860 shares during the last quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

Analyst Ratings Changes

ALL has been the subject of a number of research reports. Jefferies Financial Group upgraded Allstate from a “hold” rating to a “buy” rating and upped their price objective for the company from $130.00 to $180.00 in a research report on Tuesday, January 9th. HSBC initiated coverage on Allstate in a research report on Thursday, December 28th. They issued a “hold” rating and a $145.00 price target for the company. Raymond James upped their price target on Allstate from $155.00 to $180.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 22nd. The Goldman Sachs Group upped their price target on Allstate from $141.00 to $164.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Finally, Citigroup upped their price target on Allstate from $135.00 to $156.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $152.94.

Read Our Latest Stock Report on ALL

Insider Activity at Allstate

In related news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $134.79, for a total transaction of $539,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 13,711 shares of the company’s stock, valued at $1,848,105.69. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO John C. Pintozzi sold 4,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $134.79, for a total transaction of $539,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 13,711 shares of the company’s stock, valued at $1,848,105.69. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark Q. Prindiville sold 10,951 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $135.43, for a total value of $1,483,093.93. Following the transaction, the executive vice president now directly owns 18,677 shares of the company’s stock, valued at $2,529,426.11. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Allstate Stock Performance

NYSE:ALL opened at $156.48 on Wednesday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.64. The Allstate Co. has a 12-month low of $100.57 and a 12-month high of $159.60. The stock has a 50-day moving average price of $144.33 and a 200 day moving average price of $125.67. The stock has a market capitalization of $40.95 billion, a P/E ratio of -19.73, a P/E/G ratio of 1.82 and a beta of 0.52.

Allstate (NYSE:ALLGet Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The insurance provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.42. Allstate had a negative return on equity of 10.95% and a negative net margin of 3.51%. The company had revenue of $14.50 billion during the quarter, compared to analyst estimates of $12.78 billion. During the same period in the prior year, the company earned ($1.56) earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that The Allstate Co. will post -0.94 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Thursday, November 30th were paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Wednesday, November 29th. Allstate’s payout ratio is presently -44.89%.

About Allstate

(Free Report)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.

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Institutional Ownership by Quarter for Allstate (NYSE:ALL)

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