Erste Asset Management GmbH Has $13.14 Million Stake in The Allstate Corporation $ALL

Erste Asset Management GmbH lifted its position in shares of The Allstate Corporation (NYSE:ALL) by 9.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,647 shares of the insurance provider’s stock after acquiring an additional 5,308 shares during the quarter. Erste Asset Management GmbH’s holdings in Allstate were worth $13,142,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new position in Allstate during the 1st quarter worth about $28,000. Kapitalo Investimentos Ltda acquired a new position in Allstate during the 4th quarter worth about $29,000. Meeder Asset Management Inc. lifted its holdings in Allstate by 113.8% during the 1st quarter. Meeder Asset Management Inc. now owns 186 shares of the insurance provider’s stock worth $39,000 after buying an additional 99 shares during the period. McClarren Financial Advisors Inc. acquired a new position in Allstate during the 1st quarter worth about $43,000. Finally, Mattson Financial Services LLC acquired a new position in Allstate during the 4th quarter worth about $44,000. 76.47% of the stock is owned by institutional investors and hedge funds.

Allstate Stock Up 1.5%

Shares of NYSE:ALL opened at $213.4930 on Thursday. The business’s 50 day simple moving average is $198.91 and its two-hundred day simple moving average is $198.81. The firm has a market cap of $56.26 billion, a P/E ratio of 10.04, a PEG ratio of 0.86 and a beta of 0.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. The Allstate Corporation has a 52-week low of $176.00 and a 52-week high of $214.76.

Allstate (NYSE:ALL) last posted its earnings results on Wednesday, July 30th. The insurance provider reported $5.94 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $2.74. Allstate had a return on equity of 28.74% and a net margin of 8.79%.The company had revenue of $15.05 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same quarter last year, the company earned $1.61 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts forecast that The Allstate Corporation will post 18.74 EPS for the current fiscal year.

Allstate Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Allstate’s dividend payout ratio (DPR) is presently 18.81%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALL. Jefferies Financial Group lifted their price objective on Allstate from $254.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Citigroup raised Allstate to a “hold” rating in a research report on Wednesday, August 13th. Raymond James Financial reissued a “strong-buy” rating and issued a $260.00 price objective (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Wall Street Zen raised Allstate from a “hold” rating to a “buy” rating in a research report on Tuesday, August 5th. Finally, Wells Fargo & Company set a $202.00 price objective on Allstate and gave the stock an “equal weight” rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $230.73.

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.