Assenagon Asset Management S.A. Trims Holdings in The Allstate Co. (NYSE:ALL)

Assenagon Asset Management S.A. cut its stake in The Allstate Co. (NYSE:ALL) by 79.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 106,025 shares of the insurance provider’s stock after selling 416,610 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Allstate were worth $20,108,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in shares of Allstate in the third quarter valued at $28,000. Versant Capital Management Inc grew its position in shares of Allstate by 70.9% in the second quarter. Versant Capital Management Inc now owns 188 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Allstate in the second quarter valued at $38,000. MCF Advisors LLC grew its position in shares of Allstate by 33.9% in the second quarter. MCF Advisors LLC now owns 332 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 84 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Allstate by 38.5% during the first quarter. Sunbelt Securities Inc. now owns 363 shares of the insurance provider’s stock valued at $63,000 after buying an additional 101 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Allstate news, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $179.09, for a total value of $8,861,552.29. Following the sale, the executive vice president now owns 19,163 shares of the company’s stock, valued at $3,431,901.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Allstate news, insider John E. Dugenske sold 36,367 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $191.38, for a total value of $6,959,916.46. Following the sale, the insider now owns 27,364 shares of the company’s stock, valued at $5,236,922.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth Brady sold 49,481 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $179.09, for a total transaction of $8,861,552.29. Following the completion of the sale, the executive vice president now directly owns 19,163 shares in the company, valued at approximately $3,431,901.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 192,530 shares of company stock valued at $34,967,665 in the last quarter. Insiders own 1.80% of the company’s stock.

Allstate Price Performance

ALL stock opened at $188.12 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Co. has a 52 week low of $122.53 and a 52 week high of $198.79. The firm’s fifty day moving average is $188.01 and its 200 day moving average is $174.36. The firm has a market cap of $49.65 billion, a P/E ratio of 41.53, a P/E/G ratio of 1.74 and a beta of 0.48.

Allstate (NYSE:ALL) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating the consensus estimate of $0.33 by $1.28. Allstate had a net margin of 5.03% and a return on equity of 24.05%. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. During the same quarter last year, the firm earned ($4.42) EPS. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. Research analysts predict that The Allstate Co. will post 15.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ALL shares. Raymond James lifted their price objective on Allstate from $205.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Friday, October 4th. Morgan Stanley lifted their price objective on Allstate from $202.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. StockNews.com lowered Allstate from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group lifted their price objective on Allstate from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Roth Mkm reissued a “buy” rating and set a $200.00 price objective on shares of Allstate in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price of $206.44.

Allstate 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.