The Allstate Corporation $ALL Position Reduced by Munich Reinsurance Co Stock Corp in Munich

Munich Reinsurance Co Stock Corp in Munich reduced its position in The Allstate Corporation (NYSE:ALL) by 25.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 62,958 shares of the insurance provider’s stock after selling 21,261 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Allstate were worth $14,980,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALL. MV Capital Management Inc. acquired a new stake in Allstate during the 4th quarter valued at $25,000. Gables Capital Management Inc. acquired a new position in Allstate during the second quarter valued at $26,000. Navalign LLC acquired a new stake in Allstate during the 4th quarter worth about $27,000. Kelleher Financial Advisors purchased a new position in Allstate during the 2nd quarter valued at about $28,000. Finally, Evolution Wealth Management Inc. increased its holdings in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

Allstate Price Performance

NYSE:ALL opened at $259.43 on Friday. The company has a fifty day moving average price of $256.91 and a 200 day moving average price of $228.76. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The Allstate Corporation has a one year low of $188.08 and a one year high of $277.22. The stock has a market cap of $65.60 billion, a P/E ratio of 5.18, a PEG ratio of 0.60 and a beta of 0.15.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The business had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $15.46 billion. During the same period in the previous year, the business posted $5.94 earnings per share. Allstate’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts anticipate that The Allstate Corporation will post 34.78 earnings per share for the current year.

Allstate Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be issued a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a dividend yield of 1.7%. Allstate’s dividend payout ratio is presently 8.63%.

Analyst Upgrades and Downgrades

ALL has been the topic of a number of research analyst reports. Piper Sandler boosted their price objective on shares of Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. UBS Group boosted their price target on shares of Allstate from $261.00 to $275.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $250.00 price objective (down from $255.00) on shares of Allstate in a research report on Thursday, August 20th. Argus set a $238.00 target price on Allstate in a research report on Friday, August 28th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $315.00 price target on shares of Allstate in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $263.90.

Trending Headlines about Allstate

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate is included among insurers using artificial intelligence, data and technology to improve operating efficiency, underwriting and growth, which could support long-term margins and competitiveness. 3 Insurers to Add to Portfolio as AI Transforms Insurance Operations
• Positive Sentiment: A review of Allstate’s financial strength and earnings outlook suggests the company may merit renewed investor consideration, reinforcing the case for its profitability and balance-sheet position. Affirmed Financial Strength And Earnings Outlook Might Change The Case For Investing In Allstate
• Positive Sentiment: Allstate is highlighted as a value-oriented property-and-casualty insurer with premium growth, underwriting discipline and investment-portfolio gains. 3 P&C Insurers to Add for Better Returns in Sluggish September
• Positive Sentiment: Allstate is listed among low-beta, dividend-paying stocks that could offer defensive characteristics during September volatility, with improving earnings estimates cited as a supporting factor. Buy 5 Stocks to Stay Safe in Wall Street’s Historically Worst Month
• Neutral Sentiment: Comparisons with Tokio Marine focus on relative valuation and value-investing characteristics rather than a new company-specific catalyst. ALL or TKOMY: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: An Allstate driving-safety report ranking for Wichita provides local auto-insurance context but does not materially change the company’s financial outlook. How bad or good are Wichita drivers? See how the city ranks in Allstate report
• Negative Sentiment: Allstate shares have declined since the latest earnings report, prompting questions about whether the stock can rebound despite the company’s stronger-than-expected results. Allstate Down 4.4% Since Last Earnings Report: Can It Rebound?
• Negative Sentiment: A report that Tyler Perry paid an 81-year-old woman’s $18,000 repair bill after Allstate denied her claim could create reputational risk and renewed scrutiny of claims-handling practices, although it appears to be an isolated customer dispute. Tyler Perry pays 81-year-old woman’s $18K repair bill after Allstate denies claim

Insiders Place Their Bets

In related news, insider John E. Dugenske sold 32,996 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the sale, the insider directly owned 13,054 shares in the company, valued at $3,515,833.82. This represents a 71.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total value of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is currently owned by company insiders.

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.