Burns Matteson Capital Management LLC purchased a new position in shares of The Allstate Corporation (NYSE:ALL – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 2,745 shares of the insurance provider’s stock, valued at approximately $609,000.
Several other institutional investors and hedge funds also recently made changes to their positions in ALL. Frank Rimerman Advisors LLC grew its holdings in Allstate by 37.5% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 6,465 shares of the insurance provider’s stock worth $1,360,000 after acquiring an additional 1,762 shares during the last quarter. Vontobel Holding Ltd. increased its position in Allstate by 1,423.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 696,914 shares of the insurance provider’s stock valued at $154,617,000 after acquiring an additional 651,179 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of Allstate by 3.8% during the third quarter. TD Waterhouse Canada Inc. now owns 24,270 shares of the insurance provider’s stock valued at $5,448,000 after acquiring an additional 897 shares during the last quarter. Hanson & Doremus Investment Management raised its stake in shares of Allstate by 4.9% during the third quarter. Hanson & Doremus Investment Management now owns 2,302 shares of the insurance provider’s stock valued at $506,000 after acquiring an additional 107 shares during the last quarter. Finally, Pension & Wealth Management Advisors Inc. lifted its holdings in shares of Allstate by 37.6% during the third quarter. Pension & Wealth Management Advisors Inc. now owns 926 shares of the insurance provider’s stock worth $204,000 after purchasing an additional 253 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.
Allstate Stock Performance
NYSE:ALL opened at $247.27 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.36 and a current ratio of 0.36. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $277.22. The company has a 50 day simple moving average of $246.77 and a two-hundred day simple moving average of $235.04. The company has a market capitalization of $62.52 billion, a PE ratio of 4.94, a P/E/G ratio of 0.55 and a beta of 0.13.
Allstate (NYSE:ALL – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same quarter in the previous year, the company earned $5.94 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts anticipate that The Allstate Corporation will post 36.25 earnings per share for the current year.
Analyst Upgrades and Downgrades
ALL has been the topic of several analyst reports. Wall Street Zen raised shares of Allstate from a “buy” rating to a “strong-buy” rating in a research note on Saturday. TD Cowen increased their price objective on Allstate from $231.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, September 23rd. Morgan Stanley lowered their target price on Allstate from $265.00 to $240.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. Piper Sandler reaffirmed an “overweight” rating on shares of Allstate in a report on Monday, September 28th. Finally, Bank of America upped their price target on Allstate from $336.00 to $340.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $270.19.
Read Our Latest Report on Allstate
Insider Buying and Selling at Allstate
In related news, COO Mario Rizzo sold 56,225 shares of Allstate stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the transaction, the chief operating officer owned 82,227 shares of the company’s stock, valued at $21,747,396.96. This trade represents a 40.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Dugenske sold 32,996 shares of Allstate stock in a transaction on Friday, August 7th. The stock was sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the transaction, the insider directly owned 13,054 shares of the company’s stock, valued at $3,515,833.82. This represents a 71.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.55% of the company’s stock.
Allstate Profile
Allstate Corp. (NYSE: ALL) is an insurance company that provides protection products and related services primarily in the United States. Its offerings include automobile, homeowners, renters, condominium, motorcycle and other personal property and casualty insurance, distributed through agents, brokers, direct channels and digital platforms.
The company also provides roadside assistance, identity-protection services and protection plans for consumer products. Through its acquisition of National General, Allstate expanded its presence in independent-agent distribution and specialty personal insurance.
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