Generali Asset Management SPA SGR Sells 12,786 Shares of The Allstate Corporation $ALL

Generali Asset Management SPA SGR lessened its stake in shares of The Allstate Corporation (NYSE:ALL) by 39.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,737 shares of the insurance provider’s stock after selling 12,786 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Allstate were worth $4,237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Allstate by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,235,231 shares of the insurance provider’s stock valued at $6,690,584,000 after purchasing an additional 435,145 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Allstate by 1.2% during the second quarter. Geode Capital Management LLC now owns 6,714,629 shares of the insurance provider’s stock valued at $1,345,961,000 after buying an additional 79,366 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Allstate by 2.5% in the 2nd quarter. Franklin Resources Inc. now owns 4,670,113 shares of the insurance provider’s stock valued at $940,140,000 after buying an additional 112,858 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of Allstate by 3.3% in the 2nd quarter. Raymond James Financial Inc. now owns 2,793,645 shares of the insurance provider’s stock worth $562,388,000 after buying an additional 88,620 shares during the last quarter. Finally, Boston Partners raised its stake in shares of Allstate by 7.0% during the 2nd quarter. Boston Partners now owns 2,655,585 shares of the insurance provider’s stock worth $535,078,000 after acquiring an additional 172,931 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

Allstate Stock Performance

ALL opened at $203.62 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.32. The Allstate Corporation has a 12-month low of $176.00 and a 12-month high of $215.89. The firm has a 50 day moving average of $205.61 and a two-hundred day moving average of $202.85. The firm has a market capitalization of $53.28 billion, a PE ratio of 6.59, a P/E/G ratio of 0.46 and a beta of 0.24.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, beating the consensus estimate of $5.48 by $5.69. Allstate had a net margin of 12.53% and a return on equity of 35.42%. The business had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same period in the prior year, the firm earned $3.91 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts anticipate that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were paid a dividend of $1.00 per share. The ex-dividend date was Monday, December 1st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. Allstate’s dividend payout ratio (DPR) is presently 12.95%.

Insider Activity

In other news, insider Suren Gupta sold 21,871 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $215.21, for a total value of $4,706,857.91. Following the sale, the insider owned 100,646 shares in the company, valued at $21,660,025.66. This represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 28,807 shares of company stock valued at $6,198,726. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Evercore ISI set a $233.00 target price on shares of Allstate and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Morgan Stanley reissued an “equal weight” rating and issued a $215.00 price objective (down previously from $245.00) on shares of Allstate in a research report on Tuesday, December 16th. Mizuho started coverage on Allstate in a research note on Monday, December 15th. They set an “outperform” rating and a $254.00 target price on the stock. Wall Street Zen cut Allstate from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, JPMorgan Chase & Co. raised their price target on Allstate from $254.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.93.

Allstate Company 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.