Pinnacle Wealth Planning Services Inc. Makes New $216,000 Investment in The Allstate Corporation $ALL

Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of The Allstate Corporation (NYSE:ALL) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 1,074 shares of the insurance provider’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avantax Advisory Services Inc. increased its stake in shares of Allstate by 3.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 23,573 shares of the insurance provider’s stock worth $4,745,000 after acquiring an additional 704 shares in the last quarter. Atlas Capital Advisors Inc. boosted its stake in Allstate by 197.3% during the first quarter. Atlas Capital Advisors Inc. now owns 6,712 shares of the insurance provider’s stock worth $1,390,000 after acquiring an additional 4,454 shares in the last quarter. Commonwealth Retirement Investments LLC grew its holdings in Allstate by 103.5% in the second quarter. Commonwealth Retirement Investments LLC now owns 12,960 shares of the insurance provider’s stock worth $2,609,000 after purchasing an additional 6,590 shares during the period. Zurich Insurance Group Ltd FI bought a new position in shares of Allstate during the first quarter valued at approximately $22,405,000. Finally, Advisors Capital Management LLC purchased a new position in shares of Allstate during the first quarter valued at approximately $301,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Insider Activity at Allstate

In other news, insider Suren Gupta sold 400 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $215.22, for a total transaction of $86,088.00. Following the completion of the transaction, the insider directly owned 100,646 shares of the company’s stock, valued at $21,661,032.12. The trade was a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

Allstate Trading Down 0.0%

Shares of NYSE:ALL opened at $209.89 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.43 and a quick ratio of 0.43. The Allstate Corporation has a 1 year low of $176.00 and a 1 year high of $215.70. The company has a market cap of $54.92 billion, a P/E ratio of 9.87, a PEG ratio of 0.69 and a beta of 0.35. The stock’s fifty day moving average price is $202.92 and its 200-day moving average price is $201.91.

Allstate (NYSE:ALL) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $11.17 EPS for the quarter, topping the consensus estimate of $5.48 by $5.69. The company had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $16.59 billion. Allstate had a return on equity of 28.74% and a net margin of 8.79%.Allstate’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company earned $3.91 EPS. Sell-side analysts expect that The Allstate Corporation will post 18.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ALL shares. Barclays restated an “underweight” rating and issued a $198.00 price target (up previously from $188.00) on shares of Allstate in a research note on Thursday, July 31st. Keefe, Bruyette & Woods increased their target price on Allstate from $246.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. Roth Capital set a $230.00 price target on Allstate and gave the company a “buy” rating in a report on Friday, September 26th. Morgan Stanley upped their price target on shares of Allstate from $235.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $260.00 price objective (up from $250.00) on shares of Allstate in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Allstate has a consensus rating of “Moderate Buy” and a consensus target price of $237.64.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.