Sapient Capital LLC reduced its position in The Allstate Corporation (NYSE:ALL – Free Report) by 73.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,200 shares of the insurance provider’s stock after selling 3,273 shares during the period. Sapient Capital LLC’s holdings in Allstate were worth $256,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. South Plains Financial Inc. increased its stake in Allstate by 41.5% in the 3rd quarter. South Plains Financial Inc. now owns 167 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 49 shares in the last quarter. Humankind Investments LLC increased its stake in Allstate by 4.5% in the 3rd quarter. Humankind Investments LLC now owns 1,191 shares of the insurance provider’s stock valued at $256,000 after purchasing an additional 51 shares in the last quarter. Howard Capital Management Inc. increased its stake in Allstate by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 1,739 shares of the insurance provider’s stock valued at $373,000 after purchasing an additional 54 shares in the last quarter. Montag A & Associates Inc. increased its stake in Allstate by 10.2% in the 4th quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider’s stock valued at $125,000 after purchasing an additional 55 shares in the last quarter. Finally, L2 Asset Management LLC increased its stake in Allstate by 4.7% in the 3rd quarter. L2 Asset Management LLC now owns 1,223 shares of the insurance provider’s stock valued at $263,000 after purchasing an additional 55 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, COO Mario Rizzo sold 18,578 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares in the company, valued at $17,991,267.60. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.55% of the stock is owned by company insiders.
Allstate Stock Performance
Allstate (NYSE:ALL – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter last year, the firm earned $3.53 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. On average, analysts anticipate that The Allstate Corporation will post 29.22 EPS for the current fiscal year.
Analysts Set New Price Targets
ALL has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price target on Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Barclays raised their price target on Allstate from $207.00 to $208.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 8th. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Citigroup raised their price target on Allstate from $221.00 to $226.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Wall Street Zen downgraded Allstate from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Allstate has an average rating of “Moderate Buy” and a consensus target price of $241.67.
Check Out Our Latest Stock Analysis on Allstate
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.
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