Erste Asset Management GmbH Invests $10.03 Million in The Allstate Co. (NYSE:ALL)

Erste Asset Management GmbH acquired a new stake in shares of The Allstate Co. (NYSE:ALL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 53,253 shares of the insurance provider’s stock, valued at approximately $10,031,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALL. Pathway Financial Advisers LLC boosted its stake in Allstate by 18,472.5% during the third quarter. Pathway Financial Advisers LLC now owns 1,052,687 shares of the insurance provider’s stock valued at $199,642,000 after buying an additional 1,047,019 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Allstate by 18.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,000,866 shares of the insurance provider’s stock valued at $569,114,000 after purchasing an additional 472,040 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Allstate by 181.6% during the second quarter. AQR Capital Management LLC now owns 719,997 shares of the insurance provider’s stock worth $114,955,000 after buying an additional 464,337 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in Allstate in the third quarter worth approximately $77,819,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Allstate by 3,839.0% in the second quarter. Acadian Asset Management LLC now owns 416,117 shares of the insurance provider’s stock valued at $66,417,000 after buying an additional 405,553 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Insider Activity at Allstate

In other news, insider John E. Dugenske sold 36,367 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares in the company, valued at $5,236,922.32. The trade was a 57.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.

Allstate Trading Up 0.1 %

Allstate stock opened at $207.39 on Monday. The Allstate Co. has a one year low of $134.17 and a one year high of $209.88. The company’s fifty day moving average price is $193.02 and its two-hundred day moving average price is $179.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization of $54.92 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.82 and a beta of 0.48.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.71. The business had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $14.57 billion. Allstate had a net margin of 6.77% and a return on equity of 26.67%. Allstate’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 EPS. On average, analysts forecast that The Allstate Co. will post 16.26 earnings per share for the current fiscal year.

Allstate Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a dividend of $0.92 per share. The ex-dividend date is Friday, November 29th. This represents a $3.68 annualized dividend and a dividend yield of 1.77%. Allstate’s dividend payout ratio is presently 23.83%.

Analyst Ratings Changes

Several research firms have recently weighed in on ALL. TD Cowen raised their price objective on Allstate from $193.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. increased their price target on Allstate from $205.00 to $207.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Bank of America boosted their price objective on Allstate from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Jefferies Financial Group raised their target price on shares of Allstate from $231.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Allstate from $222.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $217.19.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.