MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Decreases Holdings in The Allstate Co. (NYSE:ALL)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in shares of The Allstate Co. (NYSE:ALL) by 91.7% during the 1st quarter, HoldingsChannel reports. The fund owned 2,032 shares of the insurance provider’s stock after selling 22,464 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Allstate were worth $352,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Allstate by 11.5% during the third quarter. Vanguard Group Inc. now owns 32,270,589 shares of the insurance provider’s stock worth $3,595,266,000 after buying an additional 3,322,673 shares during the period. Norges Bank purchased a new position in shares of Allstate during the 4th quarter worth about $212,771,000. Palestra Capital Management LLC purchased a new stake in shares of Allstate in the fourth quarter worth approximately $83,561,000. Balyasny Asset Management L.P. purchased a new stake in shares of Allstate in the fourth quarter worth approximately $81,571,000. Finally, Artemis Investment Management LLP bought a new stake in shares of Allstate during the 1st quarter worth approximately $95,764,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALL has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on shares of Allstate from $164.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Wells Fargo & Company raised their target price on shares of Allstate from $146.00 to $153.00 and gave the company an “underweight” rating in a research note on Friday, May 10th. HSBC raised Allstate from a “hold” rating to a “buy” rating and raised their price target for the stock from $158.00 to $190.00 in a report on Thursday, March 28th. Piper Sandler lifted their price target on Allstate from $172.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Finally, StockNews.com cut shares of Allstate from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.88.

Allstate Stock Down 0.3 %

NYSE ALL opened at $160.13 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The Allstate Co. has a fifty-two week low of $100.57 and a fifty-two week high of $177.37. The business has a 50 day moving average price of $165.57 and a two-hundred day moving average price of $160.33. The stock has a market cap of $42.26 billion, a PE ratio of 35.35, a P/E/G ratio of 1.88 and a beta of 0.48.

Allstate (NYSE:ALL) last released its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $1.02. The firm had revenue of $15.26 billion for the quarter, compared to the consensus estimate of $12.76 billion. Allstate had a net margin of 2.31% and a return on equity of 14.44%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.30) EPS. As a group, sell-side analysts predict that The Allstate Co. will post 12.15 EPS for the current fiscal year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, May 31st were paid a $0.92 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $3.68 dividend on an annualized basis and a yield of 2.30%. Allstate’s dividend payout ratio (DPR) is 81.24%.

About Allstate

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.