Deutsche Bank AG Buys Shares of 4,239,087 The Allstate Corporation $ALL

Deutsche Bank AG purchased a new stake in The Allstate Corporation (NYSE:ALL) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,239,087 shares of the insurance provider’s stock, valued at approximately $1,008,648,000. Deutsche Bank AG owned approximately 1.65% of Allstate as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. Allied Private Wealth LLC purchased a new position in Allstate during the second quarter valued at approximately $29,000. Kelleher Financial Advisors purchased a new stake in Allstate during the second quarter worth $28,000. MV Capital Management Inc. purchased a new stake in Allstate during the fourth quarter worth $25,000. Navalign LLC bought a new stake in Allstate during the 4th quarter valued at $27,000. Finally, Evolution Wealth Management Inc. increased its holdings in shares of Allstate by 7,000.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ALL shares. Morgan Stanley set a $265.00 price target on Allstate in a research report on Tuesday, August 11th. Wells Fargo & Company lowered Allstate from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $243.00 to $250.00 in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Allstate from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, August 6th. HSBC lowered shares of Allstate from a “buy” rating to a “hold” rating and increased their price target for the company from $244.00 to $264.00 in a research report on Monday, July 6th. Finally, Mizuho raised their price target on shares of Allstate from $255.00 to $272.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Allstate has an average rating of “Hold” and an average target price of $265.53.

Insiders Place Their Bets

In related news, insider Mark Q. Prindiville sold 1,550 shares of Allstate stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $216.27, for a total value of $335,218.50. Following the completion of the sale, the insider directly owned 27,558 shares in the company, valued at $5,959,968.66. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mario Rizzo sold 56,225 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the sale, the chief operating officer directly owned 82,227 shares in the company, valued at approximately $21,747,396.96. This represents a 40.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 92,996 shares of company stock worth $24,543,894 over the last ninety days. Insiders own 1.55% of the company’s stock.

Allstate Stock Performance

Shares of ALL opened at $257.88 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The firm has a market cap of $65.21 billion, a PE ratio of 5.15, a P/E/G ratio of 0.41 and a beta of 0.16. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22. The stock has a fifty day moving average price of $247.38 and a 200-day moving average price of $223.47.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share 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 firm had revenue of $15.43 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same period in the previous year, the business earned $5.94 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities research analysts predict that The Allstate Corporation will post 33.92 earnings per share for the current fiscal year.

Allstate Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is currently 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.