The Allstate Corporation $ALL Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lessened its holdings in The Allstate Corporation (NYSE:ALL) by 20.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,330 shares of the insurance provider’s stock after selling 14,076 shares during the period. First Citizens Bank & Trust Co.’s holdings in Allstate were worth $12,054,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gables Capital Management Inc. purchased a new stake in Allstate during the 2nd quarter worth $26,000. Allied Private Wealth LLC purchased a new position in Allstate in the second quarter valued at about $29,000. Kelleher Financial Advisors purchased a new position in Allstate in the second quarter valued at about $28,000. MV Capital Management Inc. acquired a new position in shares of Allstate during the fourth quarter worth about $25,000. Finally, Transamerica Financial Advisors LLC acquired a new position in shares of Allstate during the second quarter worth about $32,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

Insiders Place Their Bets

In related news, insider John E. Dugenske sold 32,996 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $269.33, for a total value of $8,886,812.68. Following the completion of the sale, the insider directly owned 13,054 shares of the company’s stock, valued at $3,515,833.82. The trade was a 71.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Mario Rizzo sold 56,225 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $264.48, for a total value of $14,870,388.00. Following the sale, the chief operating officer owned 82,227 shares in the company, valued at $21,747,396.96. The trade was a 40.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.55% of the company’s stock.

Allstate Stock Performance

Shares of ALL stock opened at $236.45 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.36 and a quick ratio of 0.36. The company’s fifty day moving average price is $248.44 and its two-hundred day moving average price is $234.49. The firm has a market capitalization of $59.79 billion, a P/E ratio of 4.72, a P/E/G ratio of 0.52 and a beta of 0.13. The Allstate Corporation has a 12 month low of $188.08 and a 12 month high of $277.22.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share for the quarter, beating the consensus estimate of $6.06 by $2.93. The company had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $15.46 billion. Allstate had a return on equity of 41.64% and a net margin of 18.97%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $5.94 earnings per share. On average, research analysts anticipate that The Allstate Corporation will post 35.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ALL shares. Weiss Ratings downgraded Allstate from a “buy (a)” rating to a “buy (a-)” rating in a research report on Tuesday, September 29th. TD Cowen raised their target price on Allstate from $231.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, September 23rd. Roth Capital set a $300.00 price target on Allstate in a research report on Thursday, August 6th. Wells Fargo & Company raised Allstate from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $250.00 to $236.00 in a research report on Monday. Finally, Piper Sandler restated an “overweight” rating on shares of Allstate in a report on Monday, September 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $270.19.

More Allstate News

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Bank of America raised its price target for Allstate to $340 from $336 and maintained a Buy rating, implying substantial upside from recent trading levels. Bank of America raises target for Allstate stock
• Positive Sentiment: Wells Fargo upgraded Allstate to Equal Weight from Underweight, reducing a source of bearish analyst pressure even though the new rating remains neutral. Wells Fargo upgrades Allstate
• Positive Sentiment: Allstate scheduled its next quarterly results for November 4. The announcement gives investors a near-term catalyst to assess premium growth, claims trends and profitability. Allstate schedules November results
• Neutral Sentiment: Allstate shares closed at approximately $232.60 in the latest session, gaining while the overall market declined, indicating relative investor strength. Allstate ascends while market falls
• Negative Sentiment: Morgan Stanley cut its price target to $240, while Keefe, Bruyette & Woods lowered its target to $232 and assigned an Underperform rating. These calls suggest limited upside and reflect concerns about valuation or operating performance. Morgan Stanley cuts Allstate target
• Negative Sentiment: Allstate’s Protection Services revenue grew 7.8% in the second quarter, but declining earnings and rising claims costs raise questions about whether growth can translate into higher margins. Allstate Protection Services margins
• Negative Sentiment: Following Hurricane Isaias, Allstate is providing mobile claims centers and other customer support in Alabama and the Florida Keys. The response supports retention and customer service, but storm-related claims could increase catastrophe losses and pressure near-term results. Allstate supports customers after Hurricane Isaias

About Allstate

Allstate Corporation is an insurance company that provides protection products and services primarily to individuals and families. Its offerings include automobile, homeowners, renters, condominium, and other property and casualty insurance, along with roadside assistance, identity protection, and related protection services.

The company distributes products through a network of exclusive agents, independent agents, contact centers, and digital channels. Allstate also serves customers through brands and businesses including National General, which expands its presence in personal and commercial auto insurance and other specialty coverage markets.

Founded in 1931 as part of Sears, Roebuck & Co, Allstate became an independent publicly traded company in 1995.