ABN Amro Investment Solutions Buys 9,618 Shares of The Allstate Corporation $ALL

ABN Amro Investment Solutions raised its stake in shares of The Allstate Corporation (NYSE:ALL) by 410.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,964 shares of the insurance provider’s stock after purchasing an additional 9,618 shares during the quarter. ABN Amro Investment Solutions’ holdings in Allstate were worth $2,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ALL. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Allstate by 1,766.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 869,139 shares of the insurance provider’s stock worth $180,911,000 after acquiring an additional 822,583 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Allstate in the 3rd quarter worth approximately $148,641,000. AustralianSuper Pty Ltd lifted its holdings in shares of Allstate by 80.6% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,220,984 shares of the insurance provider’s stock worth $254,148,000 after acquiring an additional 544,874 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Allstate by 52.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,385,901 shares of the insurance provider’s stock worth $279,062,000 after acquiring an additional 478,598 shares during the last quarter. Finally, Danske Bank A S bought a new stake in shares of Allstate in the 3rd quarter worth approximately $100,596,000. 76.47% of the stock is currently owned by institutional investors.

Insider Activity at Allstate

In other news, COO Mario Rizzo sold 18,578 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $218.80, for a total transaction of $4,064,866.40. Following the sale, the chief operating officer owned 82,227 shares in the company, valued at approximately $17,991,267.60. The trade was a 18.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Allstate from $260.00 to $263.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Keefe, Bruyette & Woods lifted their target price on shares of Allstate from $260.00 to $266.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $260.00 target price on shares of Allstate in a research note on Tuesday, March 3rd. Piper Sandler lifted their target price on shares of Allstate from $252.00 to $268.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Wells Fargo & Company lifted their target price on shares of Allstate from $229.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $241.67.

Allstate Stock Up 1.0%

Shares of Allstate stock opened at $216.64 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $212.27 and its two-hundred day simple moving average is $208.06. The company has a market cap of $55.77 billion, a P/E ratio of 4.78, a PEG ratio of 0.39 and a beta of 0.21. The Allstate Corporation has a 12-month low of $188.08 and a 12-month high of $227.62.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.31 by $3.34. The business had revenue of $16.94 billion for the quarter, compared to the consensus estimate of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.53 EPS. Research analysts anticipate that The Allstate Corporation will post 29.22 EPS for the current year.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.