Deutsche Bank AG Reduces Stock Position in The Allstate Corporation $ALL

Deutsche Bank AG reduced its holdings in The Allstate Corporation (NYSE:ALL) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,938,258 shares of the insurance provider’s stock after selling 162,738 shares during the period. Deutsche Bank AG’s holdings in Allstate were worth $611,598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ALL. Norges Bank purchased a new position in shares of Allstate in the 4th quarter worth $531,294,000. Franklin Resources Inc. grew its stake in shares of Allstate by 29.2% in the 4th 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 in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Allstate by 1,766.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock worth $180,911,000 after buying an additional 822,583 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Allstate in the 3rd quarter worth $148,641,000. Finally, AustralianSuper Pty Ltd grew its stake in shares of Allstate by 80.6% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,220,984 shares of the insurance provider’s stock worth $254,148,000 after buying an additional 544,874 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALL. Citigroup increased their target price on shares of Allstate from $221.00 to $226.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. The Goldman Sachs Group reissued a “neutral” rating and issued a $231.00 target price on shares of Allstate in a research note on Thursday, March 5th. Wall Street Zen downgraded shares of Allstate from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Keefe, Bruyette & Woods downgraded shares of Allstate from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $266.00 to $242.00 in a research note on Monday. Finally, Piper Sandler reissued an “overweight” rating on shares of Allstate in a research note on Thursday, May 28th. Three equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $240.33.

Insider Buying and Selling

In related news, insider Mark Q. Prindiville sold 1,550 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction 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 $17,991,267.60. This represents a 18.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,353 shares of company stock valued at $4,851,560 in the last 90 days. Company insiders own 1.55% of the company’s stock.

Allstate Trading Up 0.9%

Shares of ALL opened at $216.95 on Wednesday. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $227.62. The company has a market cap of $55.85 billion, a P/E ratio of 4.79, a P/E/G ratio of 0.38 and a beta of 0.18. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $213.75 and its 200-day simple moving average is $208.73.

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

Allstate Announces Dividend

The business 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 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

About Allstate

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.