Commerzbank Aktiengesellschaft FI Has $440,000 Stock Holdings in The Allstate Corporation $ALL

Commerzbank Aktiengesellschaft FI decreased its position in The Allstate Corporation (NYSE:ALL) by 77.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,120 shares of the insurance provider’s stock after selling 7,289 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Allstate were worth $440,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. MV Capital Management Inc. bought a new position in Allstate during the fourth quarter worth about $25,000. Dorato Capital Management acquired a new position in Allstate in the fourth quarter valued at about $27,000. Navalign LLC bought a new stake in shares of Allstate in the fourth quarter worth about $27,000. Evolution Wealth Management Inc. raised its position in shares of Allstate by 7,000.0% during the first quarter. Evolution Wealth Management Inc. now owns 142 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Allstate during the first quarter worth about $30,000. Institutional investors own 76.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Allstate from $263.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded shares of Allstate from a “hold” rating to a “buy” rating in a report on Monday. Evercore set a $240.00 price target on shares of Allstate in a research note on Friday, July 10th. Keefe, Bruyette & Woods upped their price target on shares of Allstate from $242.00 to $255.00 and gave the company a “market perform” rating in a report on Wednesday, July 8th. Finally, Cantor Fitzgerald upped their price target on shares of Allstate from $236.00 to $242.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $254.80.

Allstate Stock Performance

Shares of Allstate stock opened at $252.10 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $64.90 billion, a price-to-earnings ratio of 5.56, a price-to-earnings-growth ratio of 0.43 and a beta of 0.16. The stock’s 50-day moving average is $229.54 and its 200-day moving average is $215.33. The Allstate Corporation has a one year low of $188.08 and a one year high of $257.67.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.31 by $3.34. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The business had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period last year, the company earned $3.53 earnings per share. Allstate’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts predict that The Allstate Corporation will post 30.51 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. Stockholders of record on Monday, August 31st will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 31st. Allstate’s dividend payout ratio (DPR) is currently 9.53%.

Insider Activity

In other 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrea Redmond sold 2,225 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total transaction of $451,474.75. Following the completion of the sale, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,353 shares of company stock worth $4,851,560 over the last ninety days. Insiders own 1.55% of the company’s stock.

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.