Deutsche Bank AG increased its stake in shares of Allstate Corp (NYSE:ALL) by 56.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 798,784 shares of the insurance provider’s stock after acquiring an additional 286,842 shares during the quarter. Deutsche Bank AG’s holdings in Allstate were worth $83,635,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Rothschild Investment Corp IL boosted its position in shares of Allstate by 4.1% during the fourth quarter. Rothschild Investment Corp IL now owns 12,996 shares of the insurance provider’s stock worth $1,361,000 after acquiring an additional 516 shares during the last quarter. Dana Investment Advisors Inc. lifted its position in Allstate by 22.8% during the third quarter. Dana Investment Advisors Inc. now owns 2,838 shares of the insurance provider’s stock valued at $261,000 after purchasing an additional 526 shares during the last quarter. BKD Wealth Advisors LLC lifted its position in Allstate by 20.8% during the fourth quarter. BKD Wealth Advisors LLC now owns 3,056 shares of the insurance provider’s stock valued at $320,000 after purchasing an additional 526 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in Allstate by 10.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 5,523 shares of the insurance provider’s stock valued at $579,000 after purchasing an additional 529 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its position in Allstate by 2.6% during the fourth quarter. Thrivent Financial For Lutherans now owns 21,709 shares of the insurance provider’s stock valued at $2,273,000 after purchasing an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 75.88% of the company’s stock.
Several research firms have commented on ALL. Zacks Investment Research lowered shares of Allstate from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Argus reiterated a “buy” rating and set a $110.00 price objective on shares of Allstate in a research report on Wednesday, February 21st. Morgan Stanley reiterated an “equal weight” rating and set a $105.00 price objective (down previously from $113.00) on shares of Allstate in a research report on Wednesday, February 21st. Citigroup lowered their price objective on shares of Allstate from $118.00 to $111.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Finally, Deutsche Bank lowered their price objective on shares of Allstate from $102.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $99.00.
Allstate (NYSE:ALL) last released its earnings results on Wednesday, February 7th. The insurance provider reported $2.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.56. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.09 billion. Allstate had a net margin of 8.28% and a return on equity of 12.57%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $2.17 EPS. research analysts expect that Allstate Corp will post 8.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, March 2nd. This is a positive change from Allstate’s previous quarterly dividend of $0.37. Allstate’s dividend payout ratio (DPR) is 21.98%.
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The Allstate Corporation (Allstate) is a holding company for Allstate Insurance Company. The Company’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries. It is engaged in the property-liability insurance business and the life insurance, retirement and investment products business.
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