North Dakota State Investment Board acquired a new stake in shares of The Allstate Corporation (NYSE:ALL – Free Report) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 9,051 shares of the insurance provider’s stock, valued at approximately $1,884,000.
A number of other hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. grew its holdings in shares of Allstate by 1,766.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock valued at $180,911,000 after purchasing an additional 822,583 shares in the last quarter. Woodline Partners LP purchased a new stake in Allstate during the third quarter valued at approximately $148,641,000. AustralianSuper Pty Ltd lifted its stake in shares of Allstate by 80.6% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,220,984 shares of the insurance provider’s stock valued at $254,148,000 after purchasing an additional 544,874 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Allstate by 52.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock valued at $279,062,000 after purchasing an additional 478,598 shares during the last quarter. Finally, Danske Bank A S bought a new stake in Allstate in the third quarter worth $100,596,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
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 completion of the transaction, the chief operating officer directly 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 filing with the SEC, which is available at the SEC website. 1.55% of the stock is owned by company insiders.
Allstate Price Performance
Allstate (NYSE:ALL – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating 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 firm had revenue of $16.94 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the business earned $3.53 EPS. Allstate’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts predict that The Allstate Corporation will post 29.22 earnings per share for the current year.
Analysts Set New Price Targets
ALL has been the topic of several recent analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $231.00 target price on shares of Allstate in a research note on Thursday, March 5th. JPMorgan Chase & Co. upped their price target on shares of Allstate from $260.00 to $263.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Zacks Research lowered shares of Allstate from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Cantor Fitzgerald restated a “neutral” rating and set a $220.00 target price on shares of Allstate in a research report on Thursday, February 5th. Finally, Mizuho dropped their price objective on Allstate from $281.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Three investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $241.67.
View Our Latest Research Report on Allstate
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.
Further Reading
- Five stocks we like better than Allstate
- Why Applied Optoelectronics Stock May Be Near a Turning Point
- From High-Yield to High-Growth: 3 Stocks Boosting Dividends
- Is Everspin Technologies the Next AI Edge Breakout?
- 5 Robotics Stocks to Watch as Physical AI Builds Momentum
Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Allstate Corporation (NYSE:ALL – Free Report).
Receive News & Ratings for Allstate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allstate and related companies with MarketBeat.com's FREE daily email newsletter.
