Commerzbank Aktiengesellschaft FI Acquires Shares of 2,018 The Allstate Corporation $ALL

Commerzbank Aktiengesellschaft FI acquired a new position in The Allstate Corporation (NYSE:ALL) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,018 shares of the insurance provider’s stock, valued at approximately $480,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALL. State Street Corp grew its position in Allstate by 3.7% during the 4th quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after purchasing an additional 438,034 shares during the period. Bank of America Corp DE lifted its holdings in shares of Allstate by 8.1% in the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after buying an additional 596,321 shares during the period. GQG Partners LLC boosted its stake in shares of Allstate by 36.0% in the fourth quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock worth $1,142,449,000 after buying an additional 1,452,993 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Allstate by 29.2% in the fourth quarter. Franklin Resources Inc. now owns 5,007,549 shares of the insurance provider’s stock worth $1,042,321,000 after buying an additional 1,131,172 shares during the last quarter. Finally, Boston Partners grew its holdings in Allstate by 14.9% during the third 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. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allstate

In related news, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer owned 82,227 shares of the company’s stock, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares in the company, valued at $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 92,996 shares of company stock valued at $24,543,894 in the last 90 days. 1.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on ALL. Citigroup cut Allstate from a “neutral” rating to a “sell” rating and lifted their price target for the company from $226.00 to $240.00 in a research report on Tuesday, August 11th. JPMorgan Chase & Co. raised their price objective on shares of Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Cantor Fitzgerald lifted their target price on shares of Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Atlantic Securities set a $319.00 target price on shares of Allstate in a research note on Wednesday, July 15th. Finally, HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and raised their price target for the company from $244.00 to $264.00 in a research report on Monday, July 6th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $265.53.

Allstate Stock Up 1.2%

ALL opened at $261.27 on Wednesday. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $248.26 and a 200 day moving average price of $223.92. The company has a market cap of $66.06 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 0.41 and a beta of 0.16.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a return on equity of 41.64% and a net margin of 18.97%.The company had revenue of $15.43 billion for the quarter, compared to analysts’ expectations of $15.46 billion. During the same period in the previous year, the firm posted $5.94 EPS. Allstate’s revenue was up 11.8% compared to the same quarter last year. Sell-side analysts expect that The Allstate Corporation will post 34.2 earnings per share for the current fiscal year.

Allstate Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate’s payout ratio is presently 8.63%.

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.