Erste Asset Management GmbH Cuts Holdings in The Allstate Corporation $ALL

Erste Asset Management GmbH reduced its position in The Allstate Corporation (NYSE:ALL) by 29.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,472 shares of the insurance provider’s stock after selling 15,458 shares during the quarter. Erste Asset Management GmbH’s holdings in Allstate were worth $7,818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. South Plains Financial Inc. raised its position in shares of Allstate by 41.5% in the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock worth $36,000 after buying an additional 49 shares during the period. Coldstream Capital Management Inc. increased its holdings in Allstate by 0.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider’s stock valued at $1,625,000 after purchasing an additional 50 shares in the last quarter. Humankind Investments LLC increased its holdings in Allstate by 4.5% in the 3rd quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock valued at $256,000 after purchasing an additional 51 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Allstate by 0.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider’s stock valued at $1,210,000 after purchasing an additional 52 shares in the last quarter. Finally, Montag A & Associates Inc. increased its holdings in Allstate by 10.2% in the 4th quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock valued at $125,000 after purchasing an additional 55 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods downgraded Allstate from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $266.00 to $242.00 in a report on Monday. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Barclays increased their price target on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a report on Wednesday, April 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $231.00 price target on shares of Allstate in a report on Thursday, March 5th. Finally, Wall Street Zen downgraded Allstate from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $240.33.

Insider Buying and Selling

In related news, COO Mario Rizzo sold 18,578 shares of Allstate stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total value of $4,064,866.40. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the transaction, the insider owned 27,558 shares of the company’s stock, valued at $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 22,353 shares of company stock worth $4,851,560. Corporate insiders own 1.55% of the company’s stock.

Allstate Stock Down 2.7%

Shares of Allstate stock opened at $214.97 on Tuesday. The business has a 50-day moving average of $213.47 and a 200-day moving average of $208.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $55.34 billion, a PE ratio of 4.74, a P/E/G ratio of 0.40 and a beta of 0.19. The Allstate Corporation has a 1-year low of $188.08 and a 1-year high of $227.62.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating the consensus estimate of $7.31 by $3.34. The company had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $3.53 earnings per share. As a group, equities analysts forecast that The Allstate Corporation will post 29.43 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, June 1st. Allstate’s dividend payout ratio (DPR) is 9.53%.

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.