Virginia Retirement Systems ET AL acquired a new position in Allstate Corp (NYSE:ALL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 55,700 shares of the insurance provider’s stock, valued at approximately $5,498,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of ALL. NN Investment Partners Holdings N.V. increased its position in Allstate by 10.3% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 47,182 shares of the insurance provider’s stock valued at $4,306,000 after acquiring an additional 4,405 shares during the period. Legacy Private Trust Co. increased its position in Allstate by 23.1% in the 2nd quarter. Legacy Private Trust Co. now owns 60,905 shares of the insurance provider’s stock valued at $5,559,000 after acquiring an additional 11,410 shares during the period. Reliance Trust Co. of Delaware increased its position in Allstate by 8.6% in the 2nd quarter. Reliance Trust Co. of Delaware now owns 7,277 shares of the insurance provider’s stock valued at $664,000 after acquiring an additional 575 shares during the period. Hills Bank & Trust Co. increased its position in Allstate by 4.4% in the 2nd quarter. Hills Bank & Trust Co. now owns 16,545 shares of the insurance provider’s stock valued at $1,510,000 after acquiring an additional 690 shares during the period. Finally, Segment Wealth Management LLC increased its position in Allstate by 2.6% in the 2nd quarter. Segment Wealth Management LLC now owns 34,935 shares of the insurance provider’s stock valued at $3,189,000 after acquiring an additional 889 shares during the period. Institutional investors and hedge funds own 76.37% of the company’s stock.
ALL has been the topic of several analyst reports. B. Riley raised their target price on Allstate from $84.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Buckingham Research upgraded Allstate from an “underperform” rating to a “neutral” rating and set a $88.00 target price on the stock in a research report on Wednesday, July 18th. Citigroup lowered their target price on Allstate from $108.00 to $107.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Credit Suisse Group initiated coverage on Allstate in a research report on Tuesday, August 7th. They issued an “outperform” rating and a $114.00 target price on the stock. Finally, Wells Fargo & Co restated a “hold” rating on shares of Allstate in a research report on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $103.92.
Shares of ALL stock opened at $93.72 on Friday. Allstate Corp has a 1 year low of $88.29 and a 1 year high of $105.36. The firm has a market cap of $31.87 billion, a PE ratio of 13.97, a PEG ratio of 1.20 and a beta of 0.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.26 and a current ratio of 0.26.
Allstate (NYSE:ALL) last issued its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.28). Allstate had a net margin of 9.38% and a return on equity of 15.48%. The firm had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter last year, the business posted $1.60 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, research analysts expect that Allstate Corp will post 9.24 earnings per share for the current year.
In other news, EVP Harriet K. Harty sold 10,515 shares of Allstate stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $98.87, for a total transaction of $1,039,618.05. Following the transaction, the executive vice president now directly owns 14,606 shares in the company, valued at approximately $1,444,095.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jesse E. Merten sold 696 shares of Allstate stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $92.12, for a total value of $64,115.52. Following the transaction, the executive vice president now owns 2,102 shares in the company, valued at $193,636.24. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
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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.
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