Kornitzer Capital Management Inc. KS reduced its position in The Allstate Corporation (NYSE:ALL – Free Report) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 220,634 shares of the insurance provider’s stock after selling 2,540 shares during the quarter. Allstate accounts for approximately 0.9% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 28th biggest holding. Kornitzer Capital Management Inc. KS’s holdings in Allstate were worth $48,950,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. AlphaCentric Advisors LLC boosted its holdings in Allstate by 89.5% during the 3rd quarter. AlphaCentric Advisors LLC now owns 1,245 shares of the insurance provider’s stock valued at $276,000 after acquiring an additional 588 shares during the period. Parallel Advisors LLC grew its position in Allstate by 1.7% in the 3rd quarter. Parallel Advisors LLC now owns 9,535 shares of the insurance provider’s stock valued at $2,115,000 after acquiring an additional 155 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in Allstate in the third quarter worth $30,000. Alps Advisors Inc. increased its stake in Allstate by 22.2% in the third quarter. Alps Advisors Inc. now owns 34,601 shares of the insurance provider’s stock worth $7,677,000 after purchasing an additional 6,296 shares during the period. Finally, CenterBook Partners LP bought a new stake in shares of Allstate during the third quarter worth $1,213,000. Institutional investors own 76.47% of the company’s stock.
Allstate Stock Down 4.3%
Shares of NYSE:ALL opened at $255.27 on Friday. The business’s 50 day moving average is $245.92 and its 200 day moving average is $229.83. The stock has a market cap of $64.55 billion, a P/E ratio of 5.78, a price-to-earnings-growth ratio of 0.56 and a beta of 0.13. The Allstate Corporation has a 52-week low of $191.13 and a 52-week high of $281.11. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.25.
Allstate (NYSE:ALL – Get Free Report) last issued its earnings results on Wednesday, November 4th. The insurance provider reported $9.76 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $2.87. Allstate had a return on equity of 38.37% and a net margin of 16.57%. The business had revenue of $17.35 billion during the quarter, compared to analyst estimates of $15.87 billion. During the same period in the previous year, the company posted $11.17 EPS. Allstate’s revenue was up .5% on a year-over-year basis. Sell-side analysts predict that The Allstate Corporation will post 36.67 EPS for the current year.
Insider Activity
In other news, COO Mario Rizzo sold 56,225 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the transaction, the chief operating officer owned 82,227 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Insiders own 1.55% of the company’s stock.
Trending Headlines about Allstate
Here are the key news stories impacting Allstate this week:
- Positive Sentiment: Third-quarter EPS of $9.76 beat estimates by about 39%, with strength in Protection Services and investment income. Allstate also reported growth in insurance policies. Allstate Q3 Earnings Beat on Protection Services Unit Strength
- Positive Sentiment: Management highlighted plans to use AI to improve distribution, including a personal assistant targeted for early 2027—an opportunity to improve customer experience and efficiency. Allstate Q3 Earnings Call Highlights AI Expansion and Margin Focus
- Neutral Sentiment: Analyst views were mixed: Wells Fargo raised its target to $252 and kept an Equal Weight rating, while HSBC moved Allstate from Buy to Hold with a $271 target.
- Negative Sentiment: Catastrophe losses contributed to a roughly 45% year-over-year drop in third-quarter net income. Investors are also watching pressure on auto margins as underlying loss costs rise while average premiums fall. Allstate grows auto policies as loss costs rise
- Negative Sentiment: Some analysts remain bearish despite raising their targets: Citigroup maintained Sell at $225, and Barclays retained Underweight at $228. Both targets are below the share price referenced in the reports. Put-option volume also rose sharply, suggesting increased hedging or bearish positioning.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. Argus set a $238.00 target price on shares of Allstate in a research note on Friday, August 28th. JPMorgan Chase & Co. raised their price target on shares of Allstate from $282.00 to $292.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods reduced their price target on shares of Allstate from $250.00 to $232.00 and set an “underperform” rating on the stock in a research note on Monday, October 12th. Barclays lifted their price objective on shares of Allstate from $221.00 to $228.00 and gave the company an “underweight” rating in a report on Thursday. Finally, Weiss Ratings raised shares of Allstate from a “buy (a)” rating to a “buy (a+)” rating in a research report on Thursday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $272.00.
Get Our Latest Research Report on Allstate
Allstate Company Profile
Allstate Corporation is a U.S.-based insurance company that provides property and casualty coverage and related protection products. Its offerings include auto, homeowners, renters, condominium, motorcycle and recreational vehicle insurance, as well as life insurance and roadside assistance.
The company sells products through its Allstate-branded business and other businesses, including National General, using agents and direct-to-consumer channels. Allstate primarily serves customers in the United States.
Founded in 1931 as part of Sears, Roebuck and Co, Allstate became an independent, publicly traded company in 1993.
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