Commerzbank Aktiengesellschaft FI Buys Shares of 2,018 The Allstate Corporation $ALL

Commerzbank Aktiengesellschaft FI purchased a new position in shares of The Allstate Corporation (NYSE:ALL) in the second quarter, Holdings Channel.com reports. The fund purchased 2,018 shares of the insurance provider’s stock, valued at approximately $480,000.

Several other institutional investors have also recently made changes to their positions in ALL. MV Capital Management Inc. purchased a new position in Allstate in the fourth quarter worth approximately $25,000. Navalign LLC acquired a new stake in Allstate during the fourth quarter worth $27,000. Kelleher Financial Advisors purchased a new stake in Allstate in the second quarter valued at $28,000. Evolution Wealth Management Inc. lifted its stake 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 purchasing an additional 140 shares during the last quarter. Finally, Allied Private Wealth LLC acquired a new position in shares of Allstate in the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALL. Roth Capital set a $300.00 price objective on Allstate in a research report on Thursday, August 6th. Weiss Ratings raised shares of Allstate from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, August 6th. Atlantic Securities set a $319.00 price target on shares of Allstate in a research report on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price target on shares of Allstate from $282.00 to $292.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley set a $265.00 price objective on shares of Allstate in a report on Tuesday, August 11th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $265.53.

Allstate Stock Up 1.2%

Allstate stock opened at $261.27 on Wednesday. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22. The stock’s fifty day simple moving average is $248.26 and its 200-day simple moving average is $223.92. 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 capitalization of $66.06 billion, a P/E ratio of 5.22, a P/E/G ratio of 0.41 and a beta of 0.16.

Allstate (NYSE:ALL) last announced its quarterly earnings data on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating 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 business had revenue of $15.43 billion for the quarter, compared to analysts’ expectations of $15.46 billion. During the same period last year, the firm earned $5.94 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities analysts expect that The Allstate Corporation will post 34.2 earnings per share for the current fiscal year.

Allstate Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a $1.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 dividend on an annualized basis and a yield of 1.7%. Allstate’s dividend payout ratio (DPR) is currently 8.63%.

Insider Buying and Selling

In other Allstate news, insider Mark Q. Prindiville sold 1,550 shares of the 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 sale, the insider directly owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares in the company, valued at $451,474.75. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 92,996 shares of company stock worth $24,543,894. 1.55% of the stock is owned by corporate insiders.

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.