Principle Wealth Partners LLC acquired a new stake in Allstate Corp (NYSE:ALL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 25,073 shares of the insurance provider’s stock, valued at approximately $2,725,000. Allstate makes up 0.9% of Principle Wealth Partners LLC’s investment portfolio, making the stock its 25th largest position.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. South Texas Money Management Ltd. bought a new stake in shares of Allstate in the second quarter valued at about $209,000. DNB Asset Management AS raised its position in Allstate by 18.4% in the second quarter. DNB Asset Management AS now owns 119,332 shares of the insurance provider’s stock worth $12,135,000 after purchasing an additional 18,568 shares in the last quarter. WINTON GROUP Ltd raised its position in Allstate by 7,884.9% in the second quarter. WINTON GROUP Ltd now owns 210,483 shares of the insurance provider’s stock worth $21,404,000 after purchasing an additional 207,847 shares in the last quarter. Carroll Financial Associates Inc. raised its position in Allstate by 6.4% in the second quarter. Carroll Financial Associates Inc. now owns 2,508 shares of the insurance provider’s stock worth $255,000 after purchasing an additional 150 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in Allstate by 0.5% in the second quarter. Retirement Systems of Alabama now owns 155,342 shares of the insurance provider’s stock worth $15,797,000 after purchasing an additional 766 shares in the last quarter. 77.23% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Susan L. Lees sold 27,650 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $108.30, for a total transaction of $2,994,495.00. Following the sale, the executive vice president now directly owns 53,165 shares of the company’s stock, valued at $5,757,769.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.
Several research analysts recently issued reports on ALL shares. Morgan Stanley increased their price target on shares of Allstate from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. ValuEngine lowered shares of Allstate from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Raymond James raised their price objective on shares of Allstate from $115.00 to $125.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 1st. Barclays set a $125.00 price objective on shares of Allstate and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Evercore ISI initiated coverage on shares of Allstate in a report on Thursday, October 17th. They set an “in-line” rating and a $117.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $110.17.
Shares of NYSE ALL traded up $0.47 during mid-day trading on Friday, hitting $108.19. 1,363,870 shares of the stock were exchanged, compared to its average volume of 1,788,228. The company has a market cap of $34.29 billion, a P/E ratio of 13.41, a PEG ratio of 1.27 and a beta of 0.81. The stock’s fifty day simple moving average is $107.47 and its two-hundred day simple moving average is $102.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.30 and a current ratio of 0.30. Allstate Corp has a twelve month low of $77.00 and a twelve month high of $109.55.
Allstate (NYSE:ALL) last released its quarterly earnings results on Tuesday, October 29th. The insurance provider reported $2.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.52 by $0.32. Allstate had a net margin of 6.57% and a return on equity of 13.83%. The business had revenue of $10.87 billion for the quarter, compared to analysts’ expectations of $9.07 billion. During the same period in the prior year, the firm earned $1.93 earnings per share. As a group, equities research analysts predict that Allstate Corp will post 9.97 earnings per share for the current fiscal year.
The Allstate Corporation, through its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection, Service Businesses, Allstate Life, and Allstate Benefits segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal lines products, such as renter, condominium, landlord, boat, umbrella, and manufactured home insurance; and commercial lines products under the Allstate, Esurance, and Encompass brand names.
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