American Century Companies Inc. reduced its stake in Allstate Corp (NYSE:ALL) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,323,638 shares of the insurance provider’s stock after selling 130,126 shares during the period. American Century Companies Inc. owned 0.38% of Allstate worth $130,643,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC bought a new stake in Allstate in the third quarter valued at $110,000. Kiley Juergens Wealth Management LLC bought a new stake in Allstate in the second quarter valued at $124,000. Denali Advisors LLC bought a new stake in Allstate in the third quarter valued at $158,000. Mark Sheptoff Financial Planning LLC increased its stake in Allstate by 150.0% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,750 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in Allstate by 41.5% in the second quarter. Valeo Financial Advisors LLC now owns 1,859 shares of the insurance provider’s stock valued at $183,000 after purchasing an additional 545 shares in the last quarter. 76.37% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Allstate from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 13th. ValuEngine raised shares of Allstate from a “sell” rating to a “hold” rating in a research note on Saturday, September 1st. Citigroup set a $115.00 price target on shares of Allstate and gave the company a “buy” rating in a research note on Friday, October 12th. Credit Suisse Group decreased their price target on shares of Allstate from $114.00 to $112.00 and set a “buy” rating for the company in a research note on Tuesday, August 28th. Finally, Buckingham Research raised shares of Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 price target for the company in a research note on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. Allstate currently has a consensus rating of “Hold” and an average price target of $103.92.
In other news, EVP Harriet K. Harty sold 10,515 shares of Allstate stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the completion of the transaction, the executive vice president now directly owns 14,606 shares in the company, valued at $1,444,095.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jesse E. Merten sold 696 shares of Allstate stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $92.12, for a total transaction of $64,115.52. Following the transaction, the executive vice president now owns 2,102 shares of the company’s stock, valued at $193,636.24. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
Shares of NYSE ALL opened at $93.72 on Friday. The stock has a market cap of $31.35 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.18 and a beta of 0.87. Allstate Corp has a 1 year low of $88.29 and a 1 year high of $105.36. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.30.
Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.28). The business had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.51 billion. Allstate had a net margin of 9.38% and a return on equity of 15.48%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 earnings per share. As a group, research analysts anticipate that Allstate Corp will post 9.25 EPS for the current fiscal year.
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Allstate Company Profile
The Allstate Corporation, together with its subsidiaries, engages in property and casualty insurance, and life insurance businesses in the United States and Canada. The company's Allstate Protection segment sells private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella, and manufactured home insurance policies; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
Further Reading: Fundamental Analysis and Individual Investors
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