4,239,087 Shares in The Allstate Corporation $ALL Bought by Deutsche Bank AG

Deutsche Bank AG purchased a new position in shares of The Allstate Corporation (NYSE:ALL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,239,087 shares of the insurance provider’s stock, valued at approximately $1,008,648,000.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its holdings in Allstate by 3.7% in the 4th quarter. State Street Corp now owns 12,297,551 shares of the insurance provider’s stock worth $2,571,600,000 after buying an additional 438,034 shares during the period. Bank of America Corp DE lifted its stake in Allstate by 8.1% during the 1st quarter. Bank of America Corp DE now owns 7,913,320 shares of the insurance provider’s stock valued at $1,640,748,000 after acquiring an additional 596,321 shares during the period. GQG Partners LLC lifted its stake in Allstate by 36.0% during the 4th quarter. GQG Partners LLC now owns 5,488,560 shares of the insurance provider’s stock valued at $1,142,449,000 after acquiring an additional 1,452,993 shares during the period. Franklin Resources Inc. boosted its holdings 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 valued at $1,042,321,000 after acquiring an additional 1,131,172 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of Allstate by 14.9% in the 3rd quarter. Boston Partners now owns 3,050,780 shares of the insurance provider’s stock valued at $654,652,000 after acquiring an additional 395,195 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ALL. UBS Group increased their price objective on shares of Allstate from $261.00 to $275.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Atlantic Securities set a $319.00 price target on shares of Allstate in a report on Wednesday, July 15th. Morgan Stanley set a $265.00 price target on Allstate in a research report on Tuesday, August 11th. Evercore set a $240.00 price objective on Allstate in a research note on Friday, July 10th. Finally, Piper Sandler lifted their price objective on Allstate from $268.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $265.53.

Allstate Price Performance

Shares of NYSE ALL opened at $257.88 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $65.21 billion, a price-to-earnings ratio of 5.15, a PEG ratio of 0.41 and a beta of 0.16. The firm’s 50 day simple moving average is $247.38 and its 200-day simple moving average is $223.47. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22.

Allstate (NYSE:ALL) last posted its earnings results 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 net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $15.43 billion during the quarter, compared to analysts’ expectations of $15.46 billion. During the same period in the previous year, the business posted $5.94 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. Analysts expect that The Allstate Corporation will post 33.92 EPS for the current year.

Allstate Dividend Announcement

The company also recently disclosed 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. 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 payout ratio is presently 8.63%.

Insider Activity

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the company’s stock in a transaction dated 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 owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mario Rizzo sold 56,225 shares of the stock in a transaction dated 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. The trade was a 40.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 92,996 shares of company stock worth $24,543,894. 1.55% of the stock is currently owned by insiders.

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.